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Future of settlement is taking shape – so are some big questions
Cash or coins? How to tackle loss of netting? What about CBDCs? Market has a lot to decide in settlement revamp
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Buy-side options books shaken up in Q2 stock rally
Calamos, Janus Henderson, NY Life and Oceanview among buy-side firms reporting big index and single-stock shifts in latest filings
Latest
Quotes
For the time being, we see more synergy with foreign securities firms rather than competition
Jian Liu, chairman of China's Shenwan Hongyuan Securities
The [USD/JPY] skew moved a lot, so the price for downside went up very significantly
Francesco Schiavo, global head of FX options at Credit Suisse
The best way to solve the issues regarding liquidity is to just get rid of the [pension fund] clearing exemption
Jasper Valstar, senior portfolio manager, Achmea
Editor's Choice
The final countdown: Europe’s pension funds get ready to clear
With clearing exemption due to end next June, EU funds try to learn from UK’s LDI mistakes
Big Figure
Japan basis blowout
A combination of surging inflation, a burst of rate hikes from central banks and a liquidity-starved market has disrupted even the simplest curve or futures-bond relationship. A glaring example is the blowout in the basis between 10-year Japanese government bonds and futures on June 15.
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Comment
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Our Take
A market-making model for an options portfolio
Why did UK keep the pension fund clearing exemption?