Risk.net
Latest on Derivatives
FX prime brokers jockey for buy-side flows as IM phase 6 looms
Banks say concentrating trades through single dealer would ease paperwork logjam for asset managers
No fair: buy side takes on pricing problem in FX forwards
Interest in TCA is growing as new data sources offer glimpse into murky swaps and forwards market
Dealers fear operational ‘cliff edge’ when Libor disappears
Over-reliance on fallbacks could lead to failures at year-end
Latest
Quotes
19901 has never been reformed, despite all the IsdaFix stuff. Could it still be manipulated? Yes.
Interdealer broker source
You’ll find all sorts of things happening in prime risk management, from sophisticated to not
Former head of one Wall Street prime brokerage
[A one-way CSA] is not doable in the financial markets anymore – nobody would want to do a swap with you
Tom Meuwissen, general manager of the treasury at NWB Bank
Editor's Choice
From the margins: CGBs vie to join the collateral club
Can CGBs emulate US Treasuries as initial margin on cross-border derivatives trades?
Big Figure
Bond exodus
Liquidity in Treasuries saw a sharp deterioration on February 25, with bid/offer spreads across the whole curve tripling. Belly flies such as 2/5/10s cheapened over 17bp, seven times greater than in a typical session. This had a knock-on effect on off-the-run Treasuries. The head of rates at a US buy-side firm says one popularly traded deep off-the-run 30-year bond that regularly trades two ticks wide blew out to 12-13 ticks wide on February 25.
Read the full articleInvesting
How Athora uses its ties to Apollo to boost returns
European life insurer boosts returns by sourcing loan assets directly from private equity firm
Receive this by email
Comment
A defence against the next convexity crunch
Hedge funds and the rebound in collateral velocity
Our Take
OTC derivatives clearing: no turning back
Could prime of primes go pop?