In defence of cross-product margining

In defence of cross-product margining

Mariam Rafi

Under the mandatory clearing requirement of the Dodd-Frank Act, clients will have to clear a large proportion of their over-the-counter derivatives transactions. Yet not all derivatives are available to be cleared – cross-currency swaps, swaptions and credit default swap (CDS) tranches, to name a few – and many commonly used, but customised, derivatives may never be listed for clearing at all. Once clearing becomes mandatory, many clients will find themselves with portfolios that are split

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Switching CCP – How and why?

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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