Risk magazine
Eurex, CME and NYSE Liffe weigh long-dated inflation futures
Pension funds look for alternatives to OTC inflation swaps, as clearing services remain on the drawing board
Detroit prepares for court hearing on swaps termination
Court will rule on compromise agreement between bankrupt city and swaps counterparties
Cross-margining at CME slowed by practical challenges
Only two FCMs are currently offering margin offsets between interest rate swaps and futures at CME
CFTC-SEC cross-border split could 'tarnish' US swap markets
Regulators "going in two different directions" says Republican senator – and may face fresh calls to be merged
Inventory limits behind collapse in equity repo rates
Delta-one desks say their arbitrage business has been cut back – contributing to an unprecedented collapse in implied equity index repo rates. Inventory pressures created by bank regulation are being blamed. Matt Cameron reports
Rates volatility buoys hopes for currency forwards desks
Going forwards (checking backwards)
People: Credit Suisse appoints Munich Re CRO
Guldimann takes new role at Credit Suisse as Munich Re's Oechslin arrives; Barclays hires Morzaria from JP Morgan; Min Park joins Standard Chartered; new European inflation trading head at Citi; Axe leaves LCH.Clearnet
What's the difference between issuers and borrowers?
Look beyond loans
Unclear on substituted compliance
The US Commodity Futures Trading Commission’s final cross-border guidance, published on July 12, provides answers to some long-running puzzles, but also generates a host of new questions. Critics say the rules are rushed and full of ambiguities – not…
The great unwind: Buy-side fears impact of market-making constraints
Some buy-side firms are already calling it the great unwind – the migration out of the huge bond portfolios buy-side firms have built up in recent years, as rates eventually rise. But with dealers less able to play the role of liquidity provider, it…
Incentives remain in banking book vs trading book choice
Regulators have attempted to address a flaw within Basel II that gave banks an incentive to hold assets in the trading book. But Basel 2.5 may have gone too far, and made it more attractive to place assets in the banking book instead. By Giovanni Pepe
CME vs LCH.Clearnet: Clients may face CCP-specific pricing, warn FCMs
The two biggest clearing houses for interest rate swaps, CME and LCH.Clearnet, have different margin models – which may affect the prices charged to clients by clearing members. It could also affect the contest between the two venues. Joe Rennison reports
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across forex products in the UK and US in April 2013, with nearly $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Tax questions cloud prospects for CME swap future and Mac swaps
Early users of CME’s deliverable swap futures contracts fear the products will be taxed as loans in some situations. And with features of those contracts being used in other new instruments, it could become an issue for the entire industry. Tom Osborn…
Emir flaws could see futures reporting delayed till 2015
Esma acknowledges industry concerns over delegated reporting provisions and confirms it is considering a one-year delay
Cutting Edge introduction: Accuracy or speed?
Accuracy or speed?
Simple, but sensitive: challenges face standard uncleared margin model
Simple, but sensitive
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
Hybrid smiles made fast
Hybrid smiles made fast
SABR spreads its wings
SABR spreads its wings
Risk on extraterritoriality
The CFTC published its final cross-border rules on July 12. Nick Sawyer and Duncan Wood discuss some of the implications
Profile: Standard Chartered's Feder on Singapore benchmark changes
A charter for change
Danske Bank RWA spat worries modelling experts
Model-bashing