Offshore
Dispute emerges over ‘ambiguity’ of perp markets
Kalshi execs hit back at report’s findings of regulatory fogginess
China opens door to CGBs as initial margin
CCDC’s new rules expected to drive use of CGBs as collateral in non-cleared and cross-border trades
Offshore CGB futures still wanted as onshore opens to QFIs
Cash-settled HKEX contracts still in demand despite easing of onshore access
Offshore bonds to give China lifers a yield lifeline
Expansion of Bond Connect scheme will provide higher yielding assets for life insurers, and may ease concerns over asset-liability management
High CNH rates curb appetite for Hong Kong’s new repo scheme
Dealers remain hopeful initiative is a prelude to full onshore repo market access
JSCC plans to open JGB clearing to foreign investors
Clearing house aims to boost cleared market liquidity in Japanese government bonds
Hedge funds could look to bypass UST clearing mandate
New paper argues that repo users might relocate offshore or use other means to avoid US Treasury clearing dragnet
South Korea’s FX reforms working amid political crisis, dealers say
Martial law presented first test for reforms aimed at boosting deliverable KRW market
Futures exchanges seek clarity on China licensing regime
Hazy details on landmark Futures and Derivatives Law breeds legal uncertainty, unnerving operators
Dealers bullish on upcoming offshore CGB futures relaunch
Better contracts and deeper foreign interest in China bonds set to spur uptake, but launch date unclear
Fears of runaway risk on offshore reinsurance
Life insurers catch the eye of UK regulator for pension buyout financing trick
DisConnect: no deluge of demand for onshore CNY swaps – yet
Despite modest uptake, new onshore swaps on China’s Swap Connect could outdo non-deliverable IRSs, say dealers
Crypto custody faces regulatory death-roll
New measures to safeguard digital assets threaten to squeeze the life out of custody business, insiders fear
‘Globalisation rewired’: what does it mean for investors?
After half a century of outsourcing production to developing nations, companies are changing tack – with long-term implications for investors
Offshore renminbi: breaking new ground for a new era of safe settlement
With offshore renminbi (CNH) now one of the world’s five most traded currencies, Alex Knight, global head of Emea at Baton Systems, explains the importance of extending the ease and speed of riskless, payment-versus-payment (PvP) settlement access across…
FTX failure resets US crypto legislative programme
Lawmakers expected to seek stronger customer protection; industry wants flexibility for DeFi
Regulated firms warn against crypto market lockout
Onshore participants urge regulators to bring cryptocurrency trading out of the ‘shadows’
Banks begin China close-out netting work after Isda opinion
Rise in collateralised transactions will be next step, dealers say
GFMA proposes disruption settlement framework for FX
Russian ruble close-out pain triggers calls for voluntary multilateral pricing framework
Fortunes of VAR: dealers decry effect of war on risk models
European banks with large Russian derivatives exposures face risk of backtesting exceptions – and higher capital requirements
Offshore waves: how the ruble is becoming a painful trade
As liquidity dries up in markets affected by sanctions, trading is shifting from electronic venues