Clearing conundrum – Forging a solution for the bilateral market

Sponsored webinar: LCH

The panel

  • Nathan Ondyak, Global head of LCH SwapAgent, LCH
  • Tobias Becker, Global markets – Global macro products, Credit Suisse
  • Michael Pollak, Director, Barclays
  • Mike Curtis, Managing director, Business resource management, Nomura International
  • Moderator: Joel ClarkRisk.net

Central clearing has had a dramatic and beneficial effect on the over-the-counter derivatives market, reducing risk, standardising processes and generating new capital and operational efficiencies. But for some products – such as cross-currency swaps and swaptions – the road to a cleared model has not been as smooth.

A recent survey by Risk.net and LCH SwapAgent revealed that the capital, operational and margin costs of the non-cleared market have increased, while liquidity has decreased.  

If this is the case, what can be done to reduce costs and make the bilateral market more efficient? Senior industry professionals answer this question and discuss the following:

  • The major challenges facing the non-cleared rates market.
  • Why clearing hasn’t taken off in products such as swaptions and cross-currency swaps.
  • Solutions that can address the challenges of the non-cleared market.
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