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Homeen-gbSwaps data: initial margin soars in Q1 2020 Model procyclicality drives wide variation in CCP IM hikes through Covid-19 volatility https://www.risk.net/comment/7652666/swaps-data-initial-margin-soars-in-q1-2020
https://www.risk.net/comment/7652666/swaps-data-initial-margin-soars-in-q1-2020Wed, 08 Jul 2020 11:24:13 +0100Swaps data: record trading volumes in MarchCDS activity doubles through Covid-19 turbulence, while US interest rate swap trading marks new high, writes Amir Khwaja of ClarusFT https://www.risk.net/comment/7544341/swaps-data-record-trading-volumes-in-march
https://www.risk.net/comment/7544341/swaps-data-record-trading-volumes-in-marchWed, 13 May 2020 10:33:10 +0100Swaps data: how the market responded to Covid-19Swap rates saw massive moves as volumes peaked, writes Amir Khwaja of ClarusFT https://www.risk.net/comment/7523571/swaps-data-how-the-market-responded-to-covid-19
https://www.risk.net/comment/7523571/swaps-data-how-the-market-responded-to-covid-19Thu, 09 Apr 2020 16:40:46 +0100Swaps data: cleared volumes drop for all markets – except FXSmaller CCPs make market share gains in a quarter of double-digit declines for rates and credit https://www.risk.net/comment/7491186/swaps-data-cleared-volumes-drop-for-all-markets-except-fx
https://www.risk.net/comment/7491186/swaps-data-cleared-volumes-drop-for-all-markets-except-fxMon, 09 Mar 2020 04:30:00 +0000Swaps data: have SOFR and Sonia swaps and futures lived up to expectations?Progress on volumes of SOFR and Sonia swaps and futures https://www.risk.net/comment/7330221/swaps-data-have-sofr-and-sonia-swaps-and-futures-lived-up-to-expectations
https://www.risk.net/comment/7330221/swaps-data-have-sofr-and-sonia-swaps-and-futures-lived-up-to-expectationsTue, 14 Jan 2020 04:30:00 +0000Swaps data: third-quarter clearing volumes increase across all asset classesDollar and euro rates clearing surges 60% year on year, but little shift in CCP market share https://www.risk.net/comment/7237151/swaps-data-third-quarter-clearing-volumes-increase-across-all-asset-classes
https://www.risk.net/comment/7237151/swaps-data-third-quarter-clearing-volumes-increase-across-all-asset-classesWed, 11 Dec 2019 04:30:00 +0000Swaps data: CCPs – a systemically important market infrastructureDisclosures show heavy concentration of initial margin in the top three clearing services, writes Amir Khwaja https://www.risk.net/comment/7164381/swaps-data-ccps-a-systemically-important-market-infrastructure
https://www.risk.net/comment/7164381/swaps-data-ccps-a-systemically-important-market-infrastructureThu, 14 Nov 2019 04:30:00 +0000Swaps data: are the new RFRs on track to replace Libor?Progress on volumes of SOFR and Sonia swaps and futures https://www.risk.net/comment/7064081/swaps-data-are-the-new-rfrs-on-track-to-replace-libor
https://www.risk.net/comment/7064081/swaps-data-are-the-new-rfrs-on-track-to-replace-liborWed, 09 Oct 2019 04:30:00 +0100Swaps data: analysing the US rates collapsePrices collapse and expected worst-loss numbers hit new records https://www.risk.net/comment/6980636/swaps-data-analysing-the-us-rates-collapse
https://www.risk.net/comment/6980636/swaps-data-analysing-the-us-rates-collapseTue, 10 Sep 2019 04:30:00 +0100Swaps data: Fed’s change of tack on rates fuels volume riseCleared dollar rates jump by half year-on-year, as LCH market share tightens https://www.risk.net/comment/6888586/swaps-data-feds-change-of-tack-on-rates-fuels-volume-rise
https://www.risk.net/comment/6888586/swaps-data-feds-change-of-tack-on-rates-fuels-volume-riseFri, 09 Aug 2019 12:41:56 +0100Swaps data: a new era of competition in interest rate futuresThe demise of Libor has set off a battle for market share in futures referencing new risk-free rates https://www.risk.net/comment/6726646/swaps-data-a-new-era-of-competition-in-interest-rate-futures
https://www.risk.net/comment/6726646/swaps-data-a-new-era-of-competition-in-interest-rate-futuresWed, 12 Jun 2019 10:13:06 +0100Swaps data: IM grows in listed and OTC marketsData shows fourth-quarter jump in IM across all product groups and after-effects of Nasdaq losses https://www.risk.net/comment/6628281/swaps-data-im-grows-in-listed-and-otc-markets
https://www.risk.net/comment/6628281/swaps-data-im-grows-in-listed-and-otc-marketsWed, 08 May 2019 09:38:23 +0100Swaps data: cleared volumes and CCP market share Data shows CME and Eurex growing faster than LCH Swapclear https://www.risk.net/derivatives/6546501/swaps-data-cleared-volumes-and-ccp-market-share
https://www.risk.net/derivatives/6546501/swaps-data-cleared-volumes-and-ccp-market-shareMon, 08 Apr 2019 15:12:15 +0100Swaps data: SOFR swaps slip, futures flipAfter a banner month for the young OTC instrument in January, volumes then halved https://www.risk.net/comment/6458901/swaps-data-sofr-swaps-slip-futures-flip
https://www.risk.net/comment/6458901/swaps-data-sofr-swaps-slip-futures-flipTue, 12 Mar 2019 04:30:00 +0000Swaps data: SOFR volume and margin insightsData shows recent leap in SOFR trades – and hints at growth in synthetic swaps https://www.risk.net/comment/6373461/swaps-data-sofr-volume-and-margin-insights
https://www.risk.net/comment/6373461/swaps-data-sofr-volume-and-margin-insightsMon, 11 Feb 2019 04:30:00 +0000Swaps data: volumes up amid volatilityData shows strong growth in cleared OTC derivative volumes in second half of 2018, says Amir Khwaja https://www.risk.net/comment/6223131/swaps-data-volumes-up-amid-volatility
https://www.risk.net/comment/6223131/swaps-data-volumes-up-amid-volatilityWed, 19 Dec 2018 04:30:00 +0000Swaps data: cleared vs non-cleared marginGrowing margin burden for non-cleared swaps means cleared margin is likely to grow further, argues Amir Khwaja https://www.risk.net/comment/6111171/swaps-data-cleared-vs-non-cleared-margin
https://www.risk.net/comment/6111171/swaps-data-cleared-vs-non-cleared-marginTue, 13 Nov 2018 04:30:00 +0000Swaps data: Sonia growth spreads down the curveNew figures show boom in sterling OIS swaps is not limited to short-dated trades https://www.risk.net/comment/6017281/swaps-data-sonia-growth-spreads-down-the-curve
https://www.risk.net/comment/6017281/swaps-data-sonia-growth-spreads-down-the-curveWed, 10 Oct 2018 04:30:00 +0100Swaps data: the race to replace Libor Sonia swaps and SOFR futures are growing fast, says Amir Khwaja of Clarus FT https://www.risk.net/comment/5928096/swaps-data-the-race-to-replace-libor
https://www.risk.net/comment/5928096/swaps-data-the-race-to-replace-liborTue, 11 Sep 2018 05:00:00 +0100Swaps data: OTC margin up; futures margin downSwaps initial margin jumps 22% year-on-year, against surprise fall in futures margin, writes Amir Khwaja of Clarus FT https://www.risk.net/derivatives/5822526/swaps-data-otc-margin-up-futures-margin-down
https://www.risk.net/derivatives/5822526/swaps-data-otc-margin-up-futures-margin-downWed, 01 Aug 2018 04:30:00 +0100Swaps data: the big get bigger in cleared swapsFirst half of 2018 sees strong growth in cleared OTC derivatives volumes, and a reinforcing of the leaders’ positions, writes Amir Khwaja of Clarus FT https://www.risk.net/comment/5748931/swaps-data-the-big-get-bigger-in-cleared-swaps
https://www.risk.net/comment/5748931/swaps-data-the-big-get-bigger-in-cleared-swapsWed, 11 Jul 2018 04:30:00 +0100Swaps data: anatomy of a wild week in dollar swapsChaotic Italian politics jolted rates markets – including US dollar interest rate swaps, writes Amir Khwaja of Clarus FT https://www.risk.net/derivatives/5670011/swaps-data-anatomy-of-a-wild-week-in-dollar-swaps
https://www.risk.net/derivatives/5670011/swaps-data-anatomy-of-a-wild-week-in-dollar-swapsWed, 06 Jun 2018 12:01:18 +0100Swaps data: the allure of liquidityLiquidity in OTC trading concentrates at one venue, or splits across three, writes Amir Khwaja of Clarus FT https://www.risk.net/derivatives/5575626/swaps-data-the-allure-of-liquidity
https://www.risk.net/derivatives/5575626/swaps-data-the-allure-of-liquidityTue, 08 May 2018 04:30:00 +0100Swaps data: a Mifid-shaped holeData shows strong growth in US dollar rate swaps, but global picture is incomplete, says Amir Khwaja of Clarus FT https://www.risk.net/comment/5478056/swaps-data-a-mifid-shaped-hole
https://www.risk.net/comment/5478056/swaps-data-a-mifid-shaped-holeTue, 03 Apr 2018 04:30:00 +0100Swaps data: breaking down CCPs’ $750 billion funding billAmir Khwaja of Clarus FT considers how initial margin, variation margin and default fund contributions can quickly add up https://www.risk.net/comment/5443226/swaps-data-breaking-down-ccps-750-billion-funding-bill
https://www.risk.net/comment/5443226/swaps-data-breaking-down-ccps-750-billion-funding-billFri, 09 Mar 2018 04:30:00 +0000Swaps data: the monopoly effect in clearingThere are only a handful of products where clearing volumes are evenly split between rivals https://www.risk.net/comment/5416976/swaps-data-the-monopoly-effect-in-clearing
https://www.risk.net/comment/5416976/swaps-data-the-monopoly-effect-in-clearingThu, 15 Feb 2018 10:00:00 +0000Swaps data: forex options – candidate for a clearing mandate?Volume stats reveal a large vanilla market and much smaller trade in barriers https://www.risk.net/comment/5373196/swaps-data-forex-options-candidate-for-a-clearing-mandate
https://www.risk.net/comment/5373196/swaps-data-forex-options-candidate-for-a-clearing-mandateTue, 12 Dec 2017 00:05:00 +0000Swaps data: CCP and Sef volumes still growingFirst three quarters show strong growth in interest rate swaps, forex NDFs and index CDSs https://www.risk.net/comment/5359811/swaps-data-ccp-and-sef-volumes-still-growing
https://www.risk.net/comment/5359811/swaps-data-ccp-and-sef-volumes-still-growingMon, 20 Nov 2017 12:02:01 +0000Monthly swaps data review: basis swaps galoreData shows how less well-traded OTC instruments performed through September https://www.risk.net/comment/5341546/monthly-swaps-data-review-basis-swaps-galore
https://www.risk.net/comment/5341546/monthly-swaps-data-review-basis-swaps-galoreTue, 10 Oct 2017 07:00:00 +0100Monthly swaps data review: credit volumes peak in JuneGlobal cleared credit derivatives volumes reached $1 trillion before ebbing in July https://www.risk.net/comment/5323946/monthly-swaps-data-review-credit-volumes-peak-in-june
https://www.risk.net/comment/5323946/monthly-swaps-data-review-credit-volumes-peak-in-juneThu, 31 Aug 2017 15:33:50 +0100Monthly swaps data review: analysing CCP and Sef volumesData shows strong growth at LCH and JSCC, while OIS products surge https://www.risk.net/derivatives/5310051/monthly-swaps-data-review-analysing-ccp-and-sef-volumes
https://www.risk.net/derivatives/5310051/monthly-swaps-data-review-analysing-ccp-and-sef-volumesFri, 28 Jul 2017 15:40:20 +0100Monthly swaps data review: a day in the life of a swapAs US rate-setters met last month, real-time reporting showed the impact on swaps https://www.risk.net/derivatives/5298461/monthly-swaps-data-review-a-day-in-the-life-of-a-swap
https://www.risk.net/derivatives/5298461/monthly-swaps-data-review-a-day-in-the-life-of-a-swapMon, 03 Jul 2017 14:21:18 +0100Monthly swaps data review: ADV for OTC derivativesDaily volumes are a pillar of the futures market, and can now be found for US swaps https://www.risk.net/comment/5274141/monthly-swaps-data-review-adv-for-otc-derivatives
https://www.risk.net/comment/5274141/monthly-swaps-data-review-adv-for-otc-derivativesTue, 30 May 2017 13:01:32 +0100Monthly swaps data review: ETD vs OTC margin totals New disclosures from big CCPs show listed market consumes more margin than cleared swaps https://www.risk.net/comment/5067296/monthly-swaps-data-review-etd-vs-otc-margin-totals
https://www.risk.net/comment/5067296/monthly-swaps-data-review-etd-vs-otc-margin-totalsThu, 27 Apr 2017 07:00:00 +0100Monthly swaps data review: Libor dominance challengedThere are more sources of over-the-counter derivatives data available today than at any point in the market’s history. In this series of monthly articles, Clarus Financial Technology’s Amir Khwaja looks for trends https://www.risk.net/derivatives/4661921/monthly-swaps-data-review-libor-dominance-challenged
https://www.risk.net/derivatives/4661921/monthly-swaps-data-review-libor-dominance-challengedWed, 05 Apr 2017 05:00:00 +0100Monthly swaps data review: volumes rise, CCP switches spikeIn the first of a new series of articles, Amir Khwaja of Clarus FT looks at the most recent batch of swaps data https://www.risk.net/derivatives/3916196/monthly-swaps-data-review-volumes-rise-ccp-switches-spike
https://www.risk.net/derivatives/3916196/monthly-swaps-data-review-volumes-rise-ccp-switches-spikeThu, 23 Feb 2017 07:30:00 +0000