Articles by Joel Clark
Risk evolves in springtime of energy spin-offs
New risk management challenges as firms split legacy fossil-fuel operations from renewable-focused areas
Derivatives house of the year: Macquarie
Energy Risk Awards 2018: Cargill acquisition fuels growth for commodities-focused bank
Precious metals house of the year: BNP Paribas
Energy Risk Awards 2018: French bank adds silver to its expanding China presence
CLS to replace core settlement system
Overhaul will leverage conventional technology rather than blockchain solution that underpins new CLSNet service
Forming an effective FRTB action plan
Content provided by IBM
South Africa structured product boom raises concerns
Issuance gallops ahead amid higher rates and weak rand, but some are wary
Insurers strive to model cyber crime
Firms are battling against a lack of data with which to model policies
French regulator bears down on unlicensed brokers
Autorité des Marchés Financiers aiming to prevent losses among speculative investors
Structuring shops get shirty about spread-bets and CFDs
Retail brokers accused of stealing bank business with little oversight
Sharp downward moves in EM currencies hurt corporates
Corporates were under-hedged due to high cost of carry versus dollar
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC forex options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds
Results of an industry study reveal the scale of the liquidity burden that would fall on CCPs clearing physically delivered forex options – but a net settlement mechanism could reduce the number by 73%
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global forex division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered foreign exchange products
Pressure mounts on CFTC for relief on Sef rules
CFTC is being lobbied to grant relief on the contentious Footnote 88, which requires platforms to register as Sefs even if the products they offer are not yet made available to trade
FX swaps and forwards off initial margin hook
Working Group on Margining Requirements has confirmed the exemption of FX swaps and forwards from initial margin, as well as a more restricted exemption for cross-currency swaps
WGMR exemption for FX swaps and forwards expected imminently
Final rules on margin requirements for non-centrally cleared derivatives are expected within weeks, including a long-awaited exemption for forex swaps and forwards
FX could move to financial settlement under clearing pressure – GFXD’s Lam
Addressing the challenges of clearing deliverable foreign exchange products, Mandy Lam of the Global Financial Markets Association suggests more products could become financially settled in the future
Market conditions point to uneven global recovery, says Treasury official
Speaking at FX Week USA conference, Daleep Singh acknowledges the improvement in economic conditions in the US but calls for a more balanced global recovery
MAS warns on fragmented clearing and reporting
Asian financial markets have made progress in setting up CCPs and trade repositories, but greater harmonisation is needed across borders, Singaporean regulator warns
Singapore eyes regional hub status for offshore RMB
Addressing ACI Congress delegates, deputy prime minister and chairman of the Monetary Authority of Singapore talks up Singapore's ability to facilitate the growth of renminbi trading outside China
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to foreign exchange trading is crucial, warns head of financial market infrastructure at the New York Fed
Options clearing pushed to 2014 as solution search begins
As the search for a viable clearing mechanism for FX options begins, market participants suggest clearing won't begin before 2014
‘Near-final’ margin rules to be issued within days, says Iosco chief
Secretary general of Iosco confirms that further work is needed to assess the economic impact of margin requirements for uncleared derivatives
FSB comments on FX margin surprise industry
The FSB’s call for the Basel Committee and CPSS to set provisions on variation margin for FX derivatives appears to cross over with the Working Group on Margin Requirements, say observers