Risk Annual Summit: Buy-side firms call for clearing changes
Eligible collateral for CCP margin needs to be reviewed – and regulators also need to ensure the clearing exemption for some end-users is not negated by Basel capital rules, say buy-side firms
The clearing industry needs to become more buy-side friendly, both in terms of the governance structure of central counterparties (CCPs) and the eligible collateral that is accepted as margin, according to speakers at a Risk Annual Summit panel this morning.
Over-the-counter derivatives clearing houses were essentially built for the dealer community, and need to adapt to the needs of buy-side firms, argued Ido de Geus, head of treasury at Dutch pension fund PGGM Investments.
"This is a call to
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