Clearing members
US megabanks lead push for agency clearing in Europe
Clearing through agency model would cut US lenders’ G-Sib capital surcharges
BoE hints at retaliation if EU derecognises UK clearing houses
Warning follows release of new BoE proposals for assessing foreign clearing houses
Industry relief as US keeps leverage ratio reform on the table
Risk USA: Market participants welcome Treasury market report, which includes possible SLR changes
Funds brace for higher costs, worse terms after CS prime exit
Largest banks set to win business; others fear regulatory scrutiny of highly concentrated market
Model changes could raise Eurex swaps margins by over a fifth
Covid-induced market volatility becomes permanent stress scenario to nix procyclicality
In euro swaps tug of war, EC considers Eurex trading quota
European Commission may force firms to channel minimum amount of swaps activity to EU clearing house
Credit Suisse’s US clearing unit cuts client margin by 37%
Required segregated customer funds down more than a third since Archegos blowup
Barclays looks to woo CCPs with CDM prototype
Plan to save billions in post-trade costs relies on the creation of central data utilities
Citi reorg the final note in failed swaps clearing model
Strategic shift from OTC clearing powerhouse to client support function marks the end of an era
OCC increases skin in the game in Q2
Own funds to handle a participant collapse amounted to $313 million
EC shelves report on relocation of euro clearing
Consultation revealed a deep reluctance among banks to shift clearing to EU CCPs
Clear out: inside the equities takeover of Citi’s FCM
Clearing unit is being reshaped to support equities growth push
NSCC caught $5 billion short in June
Worst-case losses would have wiped out the CCP’s available liquid resources on two separate days in Q2
Citi hires treasury execs from JP, Citadel in equities push
New recruits arrive as bank’s equities head looks to restructure and integrate clearing division
Ice Clear Credit member default fund contributions climb 6%
Total pre-funded required participant payments hit a record high in Q2
Rafi set to take helm of Citi clearing business
Reshuffle continues at leading clearer following senior departures
CME pulls client default rule change after pushback
FCMs claim proposal gave clearing house too much power in customer defaults
Wells Fargo clearing and futures head departs
Veteran who oversaw bank’s swift rise to swaps clearing juggernaut retires
Client margin down 33% at Credit Suisse’s swaps unit in Q2
Drop in IM could signal clients jumping ship in the aftermath of Archegos blowout
OCC quants tout anti-procyclical margin method
Technique aims to lower initial margin calls in times of stress without sacrificing risk sensitivity
Eurex plans hedging contest in default auction revamp
New step in the default management process would enhance transparency in hedge provider selection
GameStop frenzy triggered $2 billion margin breach at OCC
Total initial margin held by the OCC's default fund stood at $114.4 billion in Q1
Sunil Cutinho on CME’s crisis performance
Maverick clearing house boss dismisses the need for anti-procyclicality tools imposed by regulators
NSCC caught $600m short during meme-stock frenzy
Worst-case losses would have wiped out the CCP’s available liquid resources on one day in Q1