CCP
WHAT IS THIS? A central counterparty (CCP) manages default risk by collecting initial and variation margin from both parties to a trade. Spill-over losses are absorbed via a default fund to which all members contribute – introducing a degree of mutualised risk – and by the CCP’s own capital. The concept is an old one that was extended to over-the-counter derivatives in the aftermath of the financial crisis.
European CCP group elects Eurex exec as new chair
Eurex's Marcus Zickwolff elected to chair European clearing house group
European capital rules could squash CVA feedback loop
European capital rules could squash CVA feedback loop
Eurex to offer full segregation in March launch of OTC clearing
Eurex Clearing plans to be the first OTC clearer to offer full segregation of collateral when it launches in March - demand has risen since MF Global collapse
Wells Fargo: late entrant to the OTC clearing race
A credible competitor
Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank
Asia financial regulators press on with banking reforms
Diverging directions
Buy-side firms in Asia gear up for clearing
Gearing up for clearing
Basel capital rules threaten client clearing
A blow to client clearing
Sponsored forum: OTC derivatives
Addressing the challenges of central clearing for the buy side
Risk.net poll: Basel rules make client clearing uneconomical
Fifty-four per cent of respondents say new capital rules for bank exposures to central counterparty default funds makes it unattractive to offer client clearing services
Energy and Commodities OTC Clearing and Execution under Dodd-Frank Regulation roundtable
Challenges continuously arise regarding energy and commodities OTC clearing, and changes in regulations. This roundtable offers the knowledge, experience and opinions of our elite speakers on some of the key issues the industry currently faces including:
Exemption for forex swaps and forwards should hold, says GFMA’s Kemp
James Kemp, managing director of the global foreign exchange division, talks to FX Week about the biggest regulatory challenges of 2012
Operational uncertainty still a concern in OTC reform
More guidance needed on CCP rules, study finds
OTC clearing service of the year: JP Morgan
Risk awards 2012
Credit portfolio manager of the year: JP Morgan
Risk awards 2012
Corporate risk manager of the year: Rolls-Royce
Risk awards 2012
Derivatives law firm of the year: Allen & Overy
Risk awards 2012
National interests threaten reform agenda
The health of nations
How the CCP location debate helped split the EU
Location, location, location
Contingent capital solutions mooted for CCPs
Default insurance has been explored by at least one clearing house, but capital markets solutions may be a better way to supplement existing safeguards, say some participants
Conservatives take CCPs to heart after UK/EU split
David Cameron's demand for the UK to be exempt from an ECB policy on clearing houses helped prompt last month's split with the EU - and is earning applause from eurosceptic Conservatives
Risk.net poll: CFTC should re-think $50m rule for CCPs
More than three-quarters of respondents to a Risk.net poll think rule capping membership criteria at $50 million in capital should be changed following collapse of would-be clearer MF Global