FCMs complain they struggle to pass opaque margin calculations through to end-clients
New model will cut margin faster after stresses abate, but costs still high for directional trades
Opaque models at clearing houses cast doubt on calculations for concentration add-on
From KRIs to four-eye checks, how do op risk frameworks at regional and domestic banks stack up?
Op Risk Benchmarking: Banks recognise risks in transformation, but struggle to measure them
Op Risk Benchmarking: Lenders confront “existential” threat of data leaks with bigger teams and better controls
Op Risk Benchmarking: Mistakes mean more data for reporting, models and scenarios. But do banks learn from them?
Bank leapfrogged Goldman as fourth-largest derivatives dealer after 20% jump over 2022
Last year’s nickel fiasco calls into question effectiveness of UK supervisory model – and of central bank’s part
Market participants welcome smarter margin requirements, but not the computational workload
Basel III, T+1 and EquiLend scandal all incentivise clearing, but also disintermediation
Switch will open cross-margining opportunities between repo and futures