NYSE Liffe: one pot to rule them all

For OTC clearing to work, the market will need to find and capture reliable margin offsets, says Tom Callahan, chief executive of NYSE Liffe US. By Mark Pengelly


The derivatives market is taking its first, small steps towards a big, new battleground – margin efficiency. In a world where as much as 70% of the $600 trillion notional over-the-counter market could be centrally cleared, services that allow market participants to capture offsets between combinations of cash trades, plus listed, cleared and uncleared OTC derivatives will be wildly attractive. It could even catapult new entrants into competition with established titans.

That is the wager being

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As uncertainty surrounding Brexit continues and the impacts of Covid-19-driven market volatility are analysed, it is essential for banks and their end-users to understand their clearing options, and how they can achieve greater capital and cross…

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