Risk magazine
FX clearing has taken an illogical course, panellists warn
Non-deliverable forwards are the current focus for FX CCPs and banks, but panellists argue the risk in those products is negligible
MF Global: non-US clients caught in cross-border collateral trap
Omnibus structure meant clearing clients of MF Global outside the US were asked to double up on collateral payments. Use of the structure for OTC markets is now in doubt
Germany downgrade threat sees eurozone CDSs widen
Eurozone CDS spreads were back on the rise today after Standard & Poor's warned it could downgrade 15 eurozone member states, including Germany
LCH.Clearnet appoints new CEO of CDSClear
UK-based clearer appoints Markit's former fixed-income director as chief executive of CDS clearing service
Change to Japan clearing mandate ends LCH-JSCC talks
A decision to limit the scope of Japan's clearing mandate has torpedoed months of partnership talks between LCH.Clearnet and the Japan Securities Clearing Corporation
Eurozone CDS spreads fall on French-German fiscal deal
Risk perceptions in the eurozone fell today as France and Germany agreed new treaty plans that will sanction fiscally irresponsible member states
Nomura appoints new equity derivatives co-head
Japanese bank hires Steven Downey as head of equities trading for Europe, the Middle East and Africa and co-head of derivatives
Forex infrastructure providers testing for eurozone worst-case scenario
Panellists at FX Week Europe discuss the implications for the forex market of a possible exit of one or more eurozone members from the single currency
CLS pushing 'transformation' agenda, says Bozian
The central settlement utility is feeding greater resources into expanding its universe of currencies, according to chief executive Alan Bozian
Repeal of Dodd-Frank's swaps push-out seen as unlikely to pass Congress
Despite positive vote by House subcommittee, lawyers say a bill repealing section 716 of Dodd-Frank will not pass
Risk Italia Rankings 2011
Italy in the spotlight
G14 dealer group adds two members
Nomura joined the group at the end of August, while Crédit Agricole is expected to join in the first quarter next year - in part a response to regulator criticisms that the group had become too exclusive
Eksportfinans faces collateral questions following downgrade
Junk-rated export lender says it has enough reserve liquidity to meet obligations while it is being wound up - but dealers are not convinced
Axa IM fixed-income head says euro collapse more inflationary than ECB printing euros
It is difficult to foresee borrowing costs for Italian, Spanish or other troubled debt falling permanently with "anything other than the ECB being used as a lender of the last resort", says Chris Iggo
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
StanChart’s global head of Ficc departs
Remy Klammers has left Standard Chartered and is understood to be starting his own business
ECB offers CSDs financial incentives for early T2S adoption
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
Banque de France outsources collateral management
French central bank agrees collateral management deal with Euroclear France; entire French banking community will use new system next year
German CDS spreads level out after weak debt auction spooks markets
Cost of insuring against a German government default remains stable after yesterday’s lacklustre debt auction, but risk perceptions on German banks surge
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
EU proposals for credit ratings rules require close monitoring by hedge funds
Draft language could affect the way hedge funds perform their own internal credit analysis
O'Sullivan quits SG CIB
Co-head of forex trading has left the French bank after relocating to New York earlier this year
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