Commodity Futures Trading Commission (CFTC)
Isda seeks consensus on CDS clean-up
Credit definitions amendments expected in Q1 to stamp out manipulated triggers
LCH shakes up compression vendor fee structure
Proposals follow criticism that current regime favours top provider TriOptima
Clearing houses urge CFTC to act on non-default losses
US clearing members divided on whether NDLs are CCPs’ responsibility or a mutual risk
CME abandons buy-side direct clearing initiative
CCP shutters plan after feedback from regulators and market participants
Ice changing margin model for move into options
CCP aims for Q1 2019 roll-out of new Monte Carlo-based methodology as it plans launch of index swaptions
Q&A: CFTC’s Quintenz talks bitcoin, Nasdaq breach, algo trading
On cryptocurrencies, commissioner worries about spot market, but has confidence in big futures exchanges
Lobbing out the Clobs?
As more prop traders go bilateral, what does it say about – and mean for – market liquidity?
CFTC finds harmony harder than it sounds
James Schwartz and Chrys Carey, of counsels at Morrison & Foerster, explore the impact of a recent Commodity Futures Trading Commission white paper – including how its author’s suggestions would affect cross-jurisdictional application of its regulations …
Sef reforms could distort new, sounder benchmark rates
Tradition’s Fitzpatrick warns that more ways of trading swaps could dent progress made on fixings
Let exchanges set position limits – CFTC commissioners
Agency lacks the resources to monitor limits, say Berkovitz and Quintenz
Exchange chiefs back Giancarlo in tussle over CCP oversight
The CFTC may block US CCPs from acceding to EU supervision
SEC’s Stein sounds alarm on portfolio margining
Comment period on single-name CDSs is covert attempt at rulemaking, regulator says
Basel to propose IM offset in leverage ratio
Four sources say draft will make concession; it could also revive EU-US segregation drama
Searching for the end of Giancarlo’s white-paper trail
CFTC chairman faces key test to turn thought leadership into real reform
SEC finally moves forward on single-name CDS dealer rules
Commissioner Peirce wants rest of dealer regime completed within “weeks”, but no word on clearing
LCH cancellation notices, Eurex incentives and prop trader rules
The week on Risk.net, September 29 – October 5, 2018
Q&A: CFTC’s Giancarlo on the race to overhaul cross-border rules
New Sef rules imminent, but deference to foreign regulators may not be completed by 2020
CFTC’s cross-border clearing plan faces long haul
US clients warned not to expect access to foreign exempt CCPs for at least a year
Giancarlo speech drives LCH-JSCC basis fall
CFTC chief backs US swap clearing on foreign CCPs, sparking 46% move in basis
BAML may rejoin China swaps market after US policy shift
Clearing exemption removes swaps deterrent as bank seeks to hedge growing China exposure
Shanghai CCP no-action relief clears way for US FCMs
Three-year relief may allow more clearing members to join, but hurdles to full recognition remain
Morgan Stanley FCM gains ground in Q2
Share of required client margin increases to 19% at end-June
OCC stands by margin model as regulators investigate
As watchdogs probe Q1 breaches, CCP executives insist margin models worked as intended
Machine learning, leverage ratios and a transatlantic dispute
The week on Risk.net, July 21-27, 2018