Clearing
FICC takes record bite from MMF repo investments
Funds shift cash from the Fed’s ON RRP as cleared repos hit $1.11trn
Industry groups call on EC to delay foreign CCP reporting
Trade bodies seek to prevent late-running rules causing duplicated implementation projects
How US hedge funds won big on permission to clear at JSCC
But CFTC no-action letter won’t allow netting of Japanese trades with those cleared at US FCMs
No quick fix for Treasury issuance surge – fixed income experts
Market’s ability to absorb additional $3.4trn of notes is keeping senior regulator “up at night”
Reluctant farewell to CFTC’s clearing house recovery guidance
Market participants say withdrawn 2016 letter gave clarity to CCPs; replacement may be needed
UK CCPs see gradual shift toward foreign clearing members
North America and Asia-Pacific clearing houses remain dominated by domestic members
Volatile Q2 reshapes margin composition at top CCPs
JSCC introduces new cash collateral method, CME sees gold hit record high
DTCC’s plan to unlock billions in margin and capital savings
T+1 settlement has already cut margin; now firm is working on OCC tie-up, among 10 efficiency projects
JP Morgan SE’s clearing rate plunged to 15% in 2024
US bank’s EU arm slashed €5.7trn in cleared notionals, while bilateral grew €11.4trn