The introduction of central clearing for over-the-counter derivatives has been sold as a way of making the market safer. But this claim is now being questioned by some buy-side firms, which say their collateral is better-protected today than it will be under segregation rules endorsed by the Commodity Futures Trading Commission (CFTC) in January. It is not clear, however, that they will be able to get the protection they want – even if they are willing to pay for it.
The CFTC rules are a
- Regulators to scrutinise CCP default auctions
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Sefs, Libor fallbacks and risk governance in Asia
- VAR surges, revenues tank at French banks hurt by volatility
- A rush on Libor fallbacks to head off holdouts