US Department of the Treasury
L’exception française: why French banks dominate US repo trading
French banks are exploiting a quirk in the leverage ratio rules to expand repo trading
Buy side backs call for US Treasury new-for-old scheme
A programme of bond exchanges could revive liquidity in off-the-runs
DTCC’s Murray Pozmanter on repo clearing and HFT
Buy-side clearing a top priority following suspension of interbank GCF repo
Start-up UST trading venues face clearing hurdles
Gaps in central clearing are stifling the emergence of all-to-all trading venues for US Treasuries
Tradeweb: US Treasuries clearing should be mandatory
Senior executive says move would help foster all-to-all trading in cash Treasuries
Interdealer brokers embrace buy side as bank dominance slips
Tradeweb considers integrating interdealer and client liquidity pools
DTCC coaxing HFTs to become clearing members
US Treasuries CCP concerned about contagion risk threat to existing members
SEC leverage ratio meetings alarm broker-dealers
US Treasury spread trades could face 850-fold jump in capital requirements
MetLife Sifi win leaves G-Sii status meaningless – US lawyers
Federal court decision brings whole Sifi and G-Sii designation process into question
US end-users risk tax hit in move to daily settled swaps
Changing treatment of variation margin could benefit banks, but hurt clients
Voltaire Capital and the prop shop that changed its spots
London-based start-up joins liquidity contest via buyout of Chicago HFT firm
Non-banks push direct liquidity streams in US Treasuries
Dealers could save millions in broker fees and transaction costs, non-banks claim
Exchange of the year: CME Group
Chicago exchange found fixes for five-year issuance gap in US Treasury bonds
US Treasury calls for more transparency in cash markets
Officials seek better data "to understand the dynamics of these markets"
FSOC in 'no rush' to regulate HFTs
More work to be done in understanding market structure changes, says Pinschmidt
SEC's White urges rules rethink for US Treasury venues
Current regime gives platforms easier ride on transparency
US tax rules attacked by equity derivatives dealers
Testing criteria for equity-linked products branded a “joke”
Client list reveals HFT dominance on BrokerTec
Barclays and JP Morgan only banks on list of top interdealer firms for US Treasuries
Citadel shut out of Tradeweb as it makes US Treasury move
Firm is first non-bank on Bloomberg, but primary dealer catch means it cannot join Tradeweb
Hidden price pressures grow in euro swap market
Clients face wider bid/offer spreads, as dealers struggle to find liquid hedges
Liquidity events becoming more common, buy-siders claim
US Treasury market has seen eight intraday moves exceeding five standard deviations since 2012
'Gamma trap' theory features in US Treasury meltdown report
Official post-mortem considers claims that options hedging amplified October 15 move
Dealers vent frustration at Section 871(m) hold-up
US dividend-equivalent tax change will hit high-delta products with withholding tax
Forex algos revive US rates trading at UBS
Rejigged algo behind doubling in volumes - Swiss bank aims to repeat trick in swaps