LCH
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
Downgrade fears push South Africa banks to join CCPs
FirstRand, Barclays Africa and Standard Bank eye direct LCH membership
LCH nixes US repo clearing, Weisbrod departs
David Weisbrod, CEO of LCH’s US businesses, left the company last month
People: Trio of senior execs depart UBS investment bank
UBS reshuffle; Icap chief exec departs; Green leaves Lloyds for Scotiabank
Shanghai to be first CCP to clear forex options
New service to debut in August, but liquidity risk has stalled other CCPs
CCPs and Brexit: don’t forget the rest of the world
Losing equivalence with the US could be more serious than arguments over the location of euro clearing
Not so fast, François: EU clearing land grab is complex
ECB cannot (yet) make post-Brexit demand for euro clearing to leave London