LCH
Clearing house innovation of the year: Nodal Clear
Risk Awards 2017: Bold decision to ditch VAR in favour of expected shortfall pays off
Clearing house of the year: LCH
Risk Awards 2017: CCP enjoys stellar year for volumes, and demonstrates willingness to adapt following Brexit stresses
Inflation derivatives house of the year: HSBC
Risk Awards 2017: Clearing, CSAs, CLNs, novations – UK bank's inflation business gets lean
OTC client clearer of the year: Citi
Risk Awards 2017: FCM makes its voice heard as business booms
LCH platform to provide risk calculations for margin hub
SwapAgent agrees to send standardised sensitivities for bilateral trades to AcadiaSoft for IM calls
LCH to clear single-name CDSs for US clients
Paris-based CDSClear already in discussions to onboard its first US FCM
Banks seek to standardise cross-currency settlement dates
Talks under way to exchange principal amounts on IMM dates to allow for greater netting
Review of 2016: turn and face the strange
Post-crisis reform has caused upheaval, but gave recent years a sense of direction; in 2016, that was missing
CCP default risks not correlated, CFTC finds
Timothy Massad: stress tests reveal “quite a bit of diversification” in CCP exposures
Derivatives start-up aims to cut costs at margin hub
Ex-Morgan Stanley bankers’ offering aims to reduce daily collateral flows that currently top $200bn
US inflation traders consider swap methodology change
Banks weighing up move to non-interpolated standard to cut capital costs
LCH targets non-cleared market with radical new platform
Bilateral trades would be valued and margined using LCH swap curves
A referendum on clearing
Brexit margin calls show swaps CCPs are relying on funding strength of a handful of banks
Huge Brexit margin calls stoke intra-day funding fears
Calls on June 24 may have topped $40 billion; critics urge regulators to review episode
LCH to revise margining after Brexit backlash
Excess intra-day margin will offset other collateral calls from November 3
BoE plans could force change to Libor-Sonia swap payments
Reformed Sonia proposals may see floating-leg settlements delayed
LCH under scrutiny after outsized Brexit margin calls
Intra-day calls criticised by banks; FIA working group pushing for change
Emir review could enable EU clearing land grab
Experts say 2015 ECJ ruling may not protect London euro clearing if the UK leaves the European Union
Margin rules lead to NDF clearing surge
Banks look to finally clear forex products, but options remain a challenge
LSE forced to rework Curve deal over merger risks
Banks demand LSE use its own cash while awaiting verdict on Deutsche Börse tie-up
Tough times for the real masters of the universe
Rules tie the hands of bank strategic investing units as fintech opportunities grow
Margin rules push interdealer inflation swaps to clearing
Traders say 95% of the market now cleared, compared with 10% a month ago
SGX to charge negative interest to clearing members
Excess euro and yen cash deposits expected to generate 20–40bp charge
UBS saves Sfr295m in capital via swaps margin change
FDIC vice-chair has warned of hidden dangers in new approach