Infrastructure
Electronic trading and clearing of NDFs poised for growth in Asia
Asian regulators are expected to closely follow their peers in the US and Europe in demanding swap execution facilities and over-the-counter derivatives clearing in Asia. This may bolster e-trading for NDFs based on Asian currencies
SGX could expand clearing to Australia post ASX merger
SGX could expand its OTC clearing service to the Australian market once a decision has been made on a merger with ASX, but it also plans to add new currencies and asset classes – including forex forwards
BIS: Investors dumped rate protection in late 2010
Open interest in interest rate derivatives dropped again in Q4
Record highs for Greek CDS raise market concern
Greek sovereign risk continues to rise on haircut fears
HKEx to launch renminbi secondary market facility to support IPOs
The exchange says the new offshore renminbi secondary market liquidity pool will not introduce additional counterparty or forex risk, thanks to a back-to-back arrangement with interested partner banks and brokers
Credit market readies itself for algorithmic trading
Algorithmic tendencies
BNP Paribas awarded third-party clearing waiver by SFC; predicts tectonic shift in clearing practices
BNP Paribas Securities Services has secured a waiver from the SFC, which could mark a turning point for the outsourcing of clearing services in Hong Kong
Irish CDS spreads improve as coalition talks move forward
Fine Gael-Labour government expected soon
Industry in flux as electronic trading and risk control comes to the fore
Creative destruction
Nasdaq OMX to launch Nordic swap CCP
Stockholm-based service already has Swedish debt office on board. Launch planned for second half of 2011
Bahrain CDSs tighten again in quiet markets
Sovereign risk largely unchanged in early trading
Spreading protests send Moroccan CDSs higher
Risk perceptions still climbing across Middle East
Algorithmic trading will come to coal and natural gas, says exchange president
When coal and gas futures reach the liquidity levels of oil, algorithmic traders will enter the marketplace
CDS up again on Bahrain after protests crushed
The violent crackdown on anti-government protests in Bahrain sent CDS on the country's debt up again today
Bahrain CDSs peak after second protestor killed
Risk rises as protestors mass in Manama
Draft European clearing rules threaten Eurex business model
Analysts warn Council of the European Union proposals could hurt trading revenues at Eurex, as its owner, Deutsche Börse, pursues merger talks with NYSE Euronext
Egyptian risk perception up again as Mubarak steps down
CDS spreads widen substantially in run-up to resignation of Egypt's president
Egyptian risk perception up again after Mubarak speech
CDS spreads spike as beleaguered president refuses to leave
Sovereign CDS markets unworried in early trading
Protests continued, but Middle East and north African government risk largely unchanged
Sovereign risk rises again as Egypt violence worsens
Growing violence in Cairo and other Egyptian cities pushes out CDS spreads
A clash over CCP membership
Caps in hand?
Confusion over CCP default fund charge
CCP charge confusion
Mean reversion pays, but costs
Mean reversion pays, but costs
Dealers at odds with CME over use of third-party marks
One major dealer says it may reassess CME membership, while others also raise concerns about the CCP’s willingness to allow clearing members to use third-party marks