Clearing

CME Group one step closer to CDS clearing

US exchange operator Chicago Mercantile Exchange (CME) Group has come one step closer to entering the credit derivatives market by signing a deal to clear credit default swaps (CDSs) on financial information services company Markit's CDX and iTraxx…

All Clear?

Despite a recent large increase in volumes, clearing for commodities remains a contentious issue, with little agreement on what the best business model should be, and insufficient standardisation, say market participants. Rachel Morison investigates

Ice launches US CDS clearing service

Atlanta-based derivatives exchange IntercontinentalExchange (Ice) launched its credit default swap (CDS) central clearing platform on March 9 after receiving the green light from the Securities and Exchange Commission (SEC) on March 6.

Fed approval leaves Ice/TCC on brink of CDS clearing

Intercontinental Exchange's (Ice) application to become a member of the Federal Reserve System has been approved by the US central bank, overcoming one of the final obstacles preventing the firm from launching its central clearing platform for credit…

Clear benefits

The role of central counterparties is being given increased prominence in the over-the-counter markets, with regulators calling for clearing houses for credit derivatives. But how do central counterparties manage their risks? By Clive Davidson

New single-name CDS sparks hedging worries

Plans to reshape the US single-name credit default swap (CDS) market are causing concerns among some credit portfolio managers, due to a limit on their ability to get capital relief for hedges under Basel II.

LCH.Clearnet bid sparks conflict-of-interest debate

A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.

Trichet: Eurozone CCP will help improve oversight

European Central Bank president Jean-Claude Trichet backed a central counterparty (CCP) for clearing credit default swap (CDS) trades in the eurozone today, in a speech that also called for banker compensation to be linked to avoiding excessive leverage.

Banks agree to EU CCP for clearing CDS

Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.

The fight is on for LCH

US clearing giant, The Depository Trust & Clearing Corporation (DTCC), insisted on Tuesday that a merger with London-based clearing house LCH.Clearnet would be completed by the end of March, despite a possible rival bid.

Clearing CDS for lift-off

A new single-name North American credit default swap (CDS) contract, due to be launched next month, is expected to bring greater standardisation to the market and pave the way for central clearing.

European CDS regulation 'inevitable' - EC official

The European Commission (EC) is moving ahead with plans to enforce central clearing of credit default swaps (CDSs), despite a plea by the International Swaps and Derivatives Association (Isda) to resume dialogue on the issue.

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