International Swaps and Derivatives Association (Isda)
Asian firms not likely to be compliant with cross-border Dodd-Frank on July 12
Many financial institutions in Asia would not be in a position to comply with Dodd-Frank cross-border applications should the CFTC’s exemptive order expire on schedule on July 12
Extraterritorial EU legislation likely to be ‘particularly onerous’ on Asia – Asifma
Extraterritorial aspects of European legislation such as Emir likely to be keenly felt by Asian firms, says Asifma
Australian banks lobby for reduced margin on cross-currency swaps
Current treatment of initial margin on uncleared swaps will cost Australian banks $21 billion
Swap dealers struggle with Isda protocol compliance
Failure to meet deadline for earlier protocol puts banks on the back foot for compliance with next round of rules
Data fragmentation hampers oversight
The G-20 had hoped the reporting of OTC derivatives trades would give regulators an opportunity to spot the build-up of systemic risk. But domestic reporting requirements, a lack of standard data formats and local privacy laws are preventing supervisors…
Bilateral CVA of optional early termination clauses
Bilateral CVA of optional early termination clauses
Editorial: Clearing the way
Banks have focused their attention on central clearing – but trade reporting could prove even more problematic
People: RBS loses global head of FIG
William Fall leaves FIG role at RBS; Deutsche hires London Whale quant; two new directors join Isda board; new clearing role for Wilson at Newedge; Byres to take top job at Apra
Isda AGM: Industry to address negative interest rates under CSA
Industry group will launch a best practice document confirming that negative interest rates apply under CSA
Isda AGM: Electronic trade confirms rising ahead of mandate
Survey finds more eligible OTC trades being confirmed electronically, and fewer trades left unconfirmed
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: ‘Overlapping and contradictory’ global regulation will hamper real economy
The cost of reducing systemic risk is too high for the real economy, says Isda deputy chief executive
Isda AGM: Uncleared margin rules create dangerous distortions, say panellists
New margin rules for uncleared derivatives will distort behaviour and increase systemic risk, panellists say
Isda AGM: Risk and Isda launch new derivatives research award
First OTC derivatives research award will be given in February 2014
Isda AGM: Closer international co-ordination needed, says MAS’s Ng
The potential for conflicting regulations could hamper cross-border trades, warns MAS official
Isda AGM: Template for standardised interest rate swaps launched
Isda and Sifma jointly unveil market-agreed coupon standardised interest rate swaps
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
OTC derivatives supplement
Global consistency a pipe dream, as national regulators go their own way
WGMR proposals raise procyclicality fears
Proposals on the margining of uncleared over-the-counter derivatives trades have been revised to dampen the potential liquid impact
The struggle for consensus on European clearing addendum
The move to central clearing poses a huge documentation challenge. A standard template has been developed for European derivatives users – but will this solve the problem? By Duncan Wood and Lukas Becker
Dealing with CCP proliferation
A variety of clearing houses are emerging in Asia – in some cases, backed by domestic clearing requirements for local currency derivatives. That poses some difficult questions for participants active across the region. Should they sign up to all of them…
Uncleared margin rules could hold back new CSA adoption
New proposals on the margining of uncleared derivatives trades could dampen take-up of the standard CSA
Swaps vs futures: OTC market speaks out
Swaps vs futures: OTC market speaks out
New standard CSA could be hurt by WGMR rules
Some dealers have started trading under the standard credit support annex, but a requirement in new uncleared margin rules could subject many trades to a haircut, potentially causing a re-think. By Matt Cameron and Nick Sawyer