Infrastructure
Small banks search for FCMs as June 10 deadline looms
Small banks, big needs
Eurex warns limiting CCP recovery plans could be "very dangerous"
Clearing houses need flexibility to determine correct course of action, says head of risk at Eurex Clearing
Japan delays cross-border rules amid US and European uncertainty
Equivalence and substituted compliance issues must be resolved quickly, or financial markets will be affected, says Kono at Japanese FSA
OFI Asset Management: Cutting the costs of clearing
Early adopters of over-the-counter derivatives clearing tended to be the big beasts of the buy-side universe, but smaller firms – such as France’s OFI Asset Management – are coming on board as well. By Tom Osborn
Insight Investment: The need for non-cash variation margin
Pension funds tend not to have a lot of cash lying around, making it difficult for them to meet clearing house margin calls. Specialist asset manager Insight Investment is pressing for a solution. By Tom Osborn
Mandatory clearing in Hong Kong postponed until January
Banks will have a six-month grace period before they must finally start clearing by July 2014
Australian regulators unveil criteria for mandatory clearing
Three regulators, including the RBA, reveal how they will decide whether and when to implement mandatory clearing requirements for OTC derivatives
Data shows OTC notionals shrank as clearing started in US
Notional neurosis
Editorial: Clearing the way
Banks have focused their attention on central clearing – but trade reporting could prove even more problematic
China onshore OTC clearing postponed until 2014
OTC clearing onshore in China will be delayed until at least the end of 2013 or early 2014 according to an official at Shanghai Clearing House
Too much choice: The problems with Europe's plethora of segregation models
In the US, segregation of client assets is a simple matter – only one approach is allowed for over-the-counter trades. But in Europe, where there are more clearing houses, and no prescribed approach, things are messier. And it could be dealers, not…
Clearing chaos: US OTC industry braces for June deadline
Clearing – and present danger
Singapore set to be RMB gateway to Asean region
Trade lines
Isda AGM: CCP ‘Armageddon’ could lead to sovereign default, warns HSBC exec
Single bank default could affect multiple CCPs, leading to crippling default contribution for existing members and a chain of bank failures
Isda AGM: Dealers fear US-EU reporting clash
Industry calls for common trade reporting rules
Isda AGM: Big regulators hike pressure on small countries, panellists say
Initial margin requirements could increase liquidity strain on firms in smaller markets
Isda AGM: Clearing will magnify European FTT, warns UniCredit’s Lim
Planned one-basis-point charge will be levied multiple times in cleared trades – and could “kill the market”
Isda AGM: OTC trade reporting system in danger of fragmentation
The large number of trade repositories planned globally will reduce the quality of data, panellists warn
Exchange order types prompt fears of HFT conspiracy
High-frequency traders have been viewed with suspicion for some time. Now critics claim exchanges are conspiring with the traders to develop tools that benefit them and disadvantage ordinary investors. Is the threat real? Laurie Carver reports
Banks try to standardise Sef sign-up for clients
Permission accomplished?
Isda AGM: Asia clearing houses to dominate, says survey
Many derivatives users in Asia expect to clear through local CCPs, creating the potential for liquidity fragmentation and higher costs
Q&A: Sylvie Matherat on extraterritoriality and central clearing
Europe and the US are at loggerheads over the territorial scope of new derivatives rules – as evidenced by a new financial stability review from the Banque de France – but agreement can be reached, says Sylvie Matherat, the central bank’s deputy director…
Improving operational risk management with external loss data
Sponsored webinar: IBM
Brokers lose index CDS volumes to new Tradeweb platform
Over $600 billion in index CDS volume switches to new venue where dealers guarantee liquidity to each other