Clearing
FSB asks whether CCPs could become shock-transmitters
Isda AGM: New analysis – due next month – looks at clearing network risks
Banks win concessions in battle over CCP margin models
European Commission proposal would shine light on clearing house margin charges
Swaps market’s health seen as resting on sickly repo
Isda AGM: Panellists warn repo market is risky way to fund swaps margin
Euro clearing relocation ‘will inform’ US cross-border policy
Isda AGM: CFTC’s Giancarlo says geography has been no barrier for EU CCPs in the US
MEP: Basel too slow to deal with clearing capital clash
Isda AGM: Swinburne criticises Basel’s lethargy on clash between leverage and clearing rules
LCH warns on euro clearing land grab
Isda AGM: location policy would result in higher margin costs, lower liquidity, says Maguire
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
BrokerTec dominance ‘unhealthy’, says Nasdaq’s Shay
More clearing needed to improve US Treasury competition
Euro clearing location paper due on June 28
Short precursor on Brexit-related initiative expected on May 4, alongside Emir review
Monthly swaps data review: ETD vs OTC margin totals
New disclosures from big CCPs show listed market consumes more margin than cleared swaps
CFTC counsel warns of threat to clearing portability
Leverage ratio seen as biggest impediment to porting client positions
OCC seeks leverage ratio relief as liquidity shrinks
85% of CCP’s volumes now short contracts on 20 biggest names, claims risk chief
Banks calm on Eurex-LCH basis volatility
Past basis blowouts prepared banks for movements, say traders
Buy side fuels boom in single-name CDS clearing
Ice single-name CDS volumes double year on year following switch to semi-annual rolls
Ice to clear single-name bank CDSs from April 10
US participants will be able to start clearing CDSs referencing Ice clearing members
Monthly swaps data review: Libor dominance challenged
There are more sources of over-the-counter derivatives data available today than at any point in the market’s history
Feet of Clayton
New SEC chairman split between presidential deregulation agenda and filling holes in existing rules
Ice rule change will see members post more cash
Changes pinned on CCP’s lack of access to Fed deposit account
Buy side may have to take on CCP losses – FSB’s König
Exempting ailing banks from CCP wind-up process could force wider allocation of losses
LCH margin changes aim to reduce banks’ funding costs
Changes to allow over-collateralisation by buy-side clearers should ease FCMs’ funding burden
CCP resolution plans ‘on the wrong path’, says Fed adviser
Bank framework has “contaminated” policy for CCPs, says Chicago Fed’s Steigerwald
CCP chiefs warn on clearing provision capacity
Ice and LCH question whether direct buy-side clearing models can alleviate capital crunch
The recent crises and central counterparty risk practices in the light of procyclicality: empirical evidence
This paper focuses on the risk practices of Central Counterparties in the light of their potentially procyclical features.
Silent running: on the trail of the SEC’s missing CDS rules
The mysterious fate of the apocryphal 2013 clearing proposal, and what comes next