Exchanges and CCPs
FICC liquidity facility swells to $36 billion
Capped contingent liquidity facility adjusts in response to heightened liquidity risk
Asian and Americas CCPs seek EU recognition
16 CCPs apply for Esma's seal of approval
CDS market structure transformed – BIS
Inter-dealer trades have retreated as CCP dominance grows
Interest rate ETD open interest soars
Outstanding positions at end-March hit $105 trillion
UK derivatives market continues to shrink
Gross market values lowest since December 2007
CCPs incur fewer margin breaches in 2017
LCH Ltd reports 399 fewer breaches than in 2016; DTCC 156
Liquidity resources vary across CCPs
Eurex, Ice Clear Credit, LCH SA most dependent on cash deposited at central banks
Concentration of client positions rises at LCH
Over 75% of client positions handled by five largest clearing members at LCH Ltd
Over half of CDS contracts cleared – BIS
Non-cleared trades continue downward slide
Interest rate derivatives values fall to pre-crisis low
The value of interest rate derivatives plummeted more than 16% to $7.6 trillion in the second half of 2017