GARP
Hawkish RBA comments wrong-foot Aussie dollar rates traders
Governor Bullock’s unexpected rate hike talk led to stop-outs and losses
Ardagh review sparks CDS warnings
Lawyers warn a panel’s decision on the company’s restructuring will have wider implications
MAS official flags risks in Asia’s path to T+1 settlement
Regulator says region faces “unique challenges” in establishing a shorter settlement cycle
LCH goes live with agency model for client clearing
English law version of FCM-style European trust model approved, as Eurex lags behind
Credit default swaps break through fourth wall
Fourth-trigger CDS trading ramps up as more protection sellers enter field
Hedge funds cut BoJ bets after torrid year in yen rates
Dealers see lighter positioning after shock October election saw more than $300m of losses, compounding April’s pain
Compression eases capital, risk bottlenecks amid CNH swap boom
Dealers say multilateral compression for yuan cross-currency swaps can increase trading capacity
NatWest retunes options tool to create, not hedge
Auto-hedging algo replicates non-linear exposures in spot for clients that can’t trade options
LSEG adds market risk optimisation for FX options
Tool attracts eight dealers and could be expanded to rates and equity options
Market-makers near limit for lira carry-based options trades
FX Markets Europe: Questions around liquidity, market risk and crowding constrain new Turkey flows
Destabilising: is stablecoin deposit drain a bank funding risk?
While some fear a trillion-dollar flight to stablecoin, others doubt crypto is an existential threat for banks
Nomura eyes FRTB models expansion for FX desks
With rates desks all now on FRTB internal models, markets head says FX is next
No Fed G-Sib buffer reform in 2025, say experts
Recalibration of method 2 seen as more likely than its abolition; banks resist daily averaging
CLO market dismisses First Brands contagion worries
But investors say larger concerns remain for the product’s riskiest tranches
Banks grapple with Fed’s double deadline on stress-test plans
Supervisor consulting simultaneously on next year’s test scenario and broader model changes
Crypto ETFs gatecrash the US Treasury repo market
Counterparty Radar: Volatility Shares tapped $13 billion in repo funding in Q2
S&P shutters NMRF solution amid audit questions
Vendors face adverse economics due to low number of IMA banks and prospects of regulatory easing
Investors ignore ESG scores when hedging climate risks – Engle
The ability to withstand uncertainty matters more than green credentials, says Nobel laureate
US hedge funds eyeing JSCC after regulations eased
FCMs see strong interest and expect funds to start clearing yen swaps before year-end
BoE plans system-wide test on private credit risks
Bank aims to probe market after First Brands and Tricolor collapses raise alarms about subprime lending
CFTC sprints to approve spot crypto trading by year-end
Acting chair Pham also expects tokenised collateral to be up and running by then or early 2026