Infrastructure
CCP contest starting to heat up
Give CCPs a chance
Margin models converge as CCPs battle for dealer support
Dealers say they won’t join clearing houses that are not robust – and have already blackballed one central counterparty. As a result, the initial margin methodologies employed by the big rates clearers have begun to converge. Matt Cameron reports
Profile: Credit Suisse's algo team on automating OTC markets
Automating OTC
CCIL: The benefits of fragmentation
Fragmentation benefits
LCH.Clearnet eyes November launch for NDF clearing
London-based CCP is set to launch clearing for NDFs in six currencies in mid-November, having shelved plans for options clearing while banks discuss settlement-related issues with regulators
FIA-Isda group runs rule over Sef credit check plans
The OTC market still does not know how to provide certainty that a trade will be cleared - but an FIA-Isda meeting in New York gave attendees a chance to look at what is on offer
HFT is changing the ecology of the FX market, says BIS committee
Bank for International Settlements report on high-frequency trading in the FX market is lukewarm about recent initiatives to monitor HFT and recommends further analysis by regulators and participants
Greater focus on OTC derivatives op risk required in Asia – Celent
Market participants in Asia need to focus more on operational risks associated with their resurgent OTC derivatives trading volumes, especially as the market moves towards trade repositories and central counterparty clearing, according to a new report…
Pimco said to be behind OTC clearing spike at CME
Interest rate swap clearing volumes at CME leapt 2,172% between August and September, and dealers say one firm is responsible for the surge
CCPs should be more transparent with margin models, say dealers
Dealers say CCPs need to be more transparent about how they calculate margin – including making their models fully accessible
CCP interoperability not achievable in near term, say clearers
CCP interoperability will not resolve fragmentation in the OTC markets, say panellists at Isda Europe conference in London
Special report: Clearing and settlement
Special report: Clearing and settlement
Dealers move to secure derivatives clearing gateways in Asia
Courting counterparties
The product no-one wants to sell: portability held up by lack of rules
Under-the-counter derivatives
SGX consults on derivatives clearing reform
The Singapore Exchange has proposed amendments to limit the liabilities of its members on exchange-traded and over-the-counter derivatives
Give-up agreement can survive CFTC attack, Isda event told
Despite a CFTC proposal that attacks an industry clearing document, the core of the text can survive, says lawyer at Isda's New York conference
OTC derivatives reform will lead to algo boom, banks predict
Dodd-Frank and Sefs set to encourage growth in algorithmic execution of OTC derivatives, say dealers
SFOA conference: Eurex supports central bank access for CCPs
Derivatives clearing houses should be able to rely on central bank liquidity support, says Eurex exec at SFOA annual conference
SwapClear may assist OIS development
SwapClear may assist OIS development
Obstacles facing dealers' dream of a global OTC data repository
The database race
CFTC proposals leave cloud over FIA-Isda clearing contract
Grey skies over give-ups
RBS launching gamma hedging algo for forex clients
New algorithm is designed to automatically hedge gamma sensitivity of foreign exchange options