Exchanges and CCPs
UK derivatives values grow on forex activity
Foreign exchange contact values leap £0.4 trillion in second quarter
Margin 'big bang' to catch tenfold more UK firms, FCA estimates
Risk Quantum analysis suggests around 50 firms will be captured by margin rules in total
OCC swells liquidity after reinforcing clearing fund
Further changes expected following September clearing fund revamp
CCPs build their liquidity buffers
$26 billion increase in deposits entrusted to commercial banks
Ice single-name clearing surge defies market trend
Ice Clear Credit open interest grows 31%
Ice Clear Europe had a top margin breach of $91 million in Q1
A total nine breaches are reported, averaging $14 million
OCC margin breaches spike in Q1
Peak exposure of $363 million in three months to March 31
CME reports two margin breaches in Q1
Shortfalls totalling $79 million were by far the largest for the CCP since public reporting started in 2015
Eurex rejigs liquidity portfolio
Half a billion euros placed with commercial banks at end-March
JSCC reinforces default funds
Member firm contributions swell ¥135.5 billion across derivatives clearing services
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