Dealers and FCMs split on clearing incentives

Futures commission merchants (FCMs) and dealers differ on how the Basel III leverage ratio and capital add-ons for big banks impact clearing of over-the-counter (OTC) derivatives, a report by international standard-setters shows.

Four multinational bodies tasked with developing the post-crisis regulatory framework issued a joint report earlier today, August 7, evaluating the effects of their reforms on OTC clearing activity. The findings of the report are based on a survey of 118 market partici

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