Infrastructure
CFTC urged to rethink rules that threaten cross-margining
The cross-product margining maze
Despite hurdles, clearers map out forex ambitions
Clearing hurdles
Margin minutiae at issue in Jefferies v IDCG suit
Mire in margin minutiae
Block trade allocations: FCMs and CCPs prepare for new regime
Block around the clock
In defence of cross-product margining
In defence of cross-product margining
Dealers face up to OTC clearing's tech revolution
Clearing the way for IT
HK regulator clarifies extraterritorial impact of OTC derivatives rules
A senior official at the Hong Kong securities watchdog says some exceptions are likely to be made to proposed new extraterritoriality rules on mandatory clearing and reporting OTC derivatives in Hong Kong
Hong Kong to start OTC derivatives clearing and reporting in January 2013 – HKMA's Lau
Hong Kong will “tentatively” introduce centralised clearing and reporting for OTC derivatives in January 2013, said Edmond Lau, HKMA executive director, at the Isda Asia-Pacific Conference 2011
‘No way’ Asia can meet CCP deadline; probably the same for Europe
Panellists speaking at a derivatives industry event in Hong Kong believe Asia is unlikely to meet its obligations to have full mandatory clearing in 14 months – the deadline established in the 2009 G-20 agreement. They say a lack of regulatory clarity is…
Dealers see danger in CFTC's $50m clearing capital limit
CFTC says 38 FCMs would be able to act as OTC clearing members under $50 million capital limit - but dealers fear it will weaken CCPs, and call for tough membership rules to redress the balance
FX Week Asia: Options clearing on hold, prime brokers confirm
Forex clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared forex options, according to speakers at the FX Week Asia conference in Singapore
G-20 affirms LEI mission as information industry demands more action
Data industry executives say national regulators must now champion the legal entity identifier project if risk management goals are to be met
Emerging markets focus to boost NDFs despite clearing costs
Growth of non-deliverable forwards market will not be hit by impending clearing laws
Risk.net poll: CCPs should have access to central bank liquidity
The majority of respondents to an online poll support central bank liquidity access for CCPs, but critics argue this would be likely to lead to the break-up of multi-currency clearers
Clearing of Chilean NDFs hampered by netting uncertainty
The Central Bank of Chile has the authority to stop financial institutions netting down their transactions, which participants fear might prevent central counterparties from being able to clear contracts denominated in the Chilean peso
CCP contest starting to heat up
Give CCPs a chance
Margin models converge as CCPs battle for dealer support
Dealers say they won’t join clearing houses that are not robust – and have already blackballed one central counterparty. As a result, the initial margin methodologies employed by the big rates clearers have begun to converge. Matt Cameron reports
Profile: Credit Suisse's algo team on automating OTC markets
Automating OTC
CCIL: The benefits of fragmentation
Fragmentation benefits
LCH.Clearnet eyes November launch for NDF clearing
London-based CCP is set to launch clearing for NDFs in six currencies in mid-November, having shelved plans for options clearing while banks discuss settlement-related issues with regulators
FIA-Isda group runs rule over Sef credit check plans
The OTC market still does not know how to provide certainty that a trade will be cleared - but an FIA-Isda meeting in New York gave attendees a chance to look at what is on offer
HFT is changing the ecology of the FX market, says BIS committee
Bank for International Settlements report on high-frequency trading in the FX market is lukewarm about recent initiatives to monitor HFT and recommends further analysis by regulators and participants
Greater focus on OTC derivatives op risk required in Asia – Celent
Market participants in Asia need to focus more on operational risks associated with their resurgent OTC derivatives trading volumes, especially as the market moves towards trade repositories and central counterparty clearing, according to a new report…
Pimco said to be behind OTC clearing spike at CME
Interest rate swap clearing volumes at CME leapt 2,172% between August and September, and dealers say one firm is responsible for the surge