Infrastructure
Algorithmic trading in energy
The hare and the tortoise
EU Council questions Esma’s power to determine clearing eligibility
Legal precedent suggests European Commission might have to determine which contracts should be cleared under new derivatives rules, rather than Esma as originally planned
Unlevel playing field for CCP members concerns banks
Under the bar, over the top?
Dealers resigned to CCP competition in Asia
Gaining interest
Sponsored statement: LCH.Clearnet
Tested model proves the clear choice in Europe and the US
HSBC's new global custody head talks Japan and priorities for 2011
John van Verre, HSBC's head of global custody at HSBC Securities Services, has told ICFA there has been little impact to its business in Japan following the devastating earthquake and tsunami.
Polish OTC clearer aims for 2012 launch as Europe fragments
Another central counterparty plans to launch in Europe, starting with zloty-denominated interest rate swaps
CFTC urged to raise bar for CCP stress tests
Market participants say CFTC proposals should be more detailed, more prescriptive
MEFF launches central clearing for electricity derivatives
Increased liquidity in the Spanish market necessitates netting and reduction of counterparty risk, says managing director
Portuguese CDS spreads down on ECB bond purchase rumours
Nuclear generators improve as Fukushima stabilises, Egypt down after Libyan ceasefire
Electronic trading and clearing of NDFs poised for growth in Asia
Asian regulators are expected to closely follow their peers in the US and Europe in demanding swap execution facilities and over-the-counter derivatives clearing in Asia. This may bolster e-trading for NDFs based on Asian currencies
SGX could expand clearing to Australia post ASX merger
SGX could expand its OTC clearing service to the Australian market once a decision has been made on a merger with ASX, but it also plans to add new currencies and asset classes – including forex forwards
BIS: Investors dumped rate protection in late 2010
Open interest in interest rate derivatives dropped again in Q4
Record highs for Greek CDS raise market concern
Greek sovereign risk continues to rise on haircut fears
HKEx to launch renminbi secondary market facility to support IPOs
The exchange says the new offshore renminbi secondary market liquidity pool will not introduce additional counterparty or forex risk, thanks to a back-to-back arrangement with interested partner banks and brokers
Credit market readies itself for algorithmic trading
Algorithmic tendencies
BNP Paribas awarded third-party clearing waiver by SFC; predicts tectonic shift in clearing practices
BNP Paribas Securities Services has secured a waiver from the SFC, which could mark a turning point for the outsourcing of clearing services in Hong Kong
Irish CDS spreads improve as coalition talks move forward
Fine Gael-Labour government expected soon
Industry in flux as electronic trading and risk control comes to the fore
Creative destruction
Nasdaq OMX to launch Nordic swap CCP
Stockholm-based service already has Swedish debt office on board. Launch planned for second half of 2011
Bahrain CDSs tighten again in quiet markets
Sovereign risk largely unchanged in early trading
Spreading protests send Moroccan CDSs higher
Risk perceptions still climbing across Middle East
Algorithmic trading will come to coal and natural gas, says exchange president
When coal and gas futures reach the liquidity levels of oil, algorithmic traders will enter the marketplace