Clearing
Pooled funds in clearing limbo
Pension funds will not have to clear in Europe until at least mid-2015, but what about the vehicles some use to scale up their hedging transactions? As things stand, lawyers are giving different answers – and the industry wants regulators to clarify the…
Bill Clinton says failure to reform OTC markets earlier was a "real mistake"
Speaking at Sifma AGM, former US president says OTC market should have been forced into collateralised regime before 2008 crisis
FCMs stunned by $1.75 billion client buffer at Credit Suisse
Swiss bank is tying up too much capital in immature business, rivals claim, after new NFA data shows it to be an outlier
CME threatens to flee US as regulators challenge liquidity of US Treasury collateral
US CCPs may need committed funding to count US Treasury collateral as liquid
Pooled fund clearing questions vex CVA desks
Dealers and pension funds still waiting for clarity on whether hedging vehicles are covered by Europe's swap clearing exemption
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global forex division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered foreign exchange products
CFTC substituted compliance process not clear enough – Risk.net poll
The majority of respondents to a Risk.net poll say they do not understand how CFTC substituted compliance determinations will be made
Remembering Lehman: CCPs hardwire collapse into models
Five years on from the collapse of Lehman Brothers, the chaos that followed is now being erased from some value-at-risk models – and clearing houses do not agree on how to prop up their margin requirements. By Tom Osborn
Asia Broker of the Year: BNP Paribas Commodity Futures
Strong links with trade finance group mean brokerage clients have access to impressive variety of services
Sef execution agreement requirement angers buy side
Buy-side firms complain about the documentation burden ahead of the October 2 Sef deadline
Resolution planning leaves banks facing subsidiary dilemma
Time management
Custody Risk July–September 2013
Editor's letter
The CCP price: users fear modelling mishaps
The CCP price
Banks could quit CCPs that miss Esma deadline
A world of confusion
Clearing certainty: Hubs hit heavy weather
Unclear over clearing hubs
The slow growth of cross-product margining
The slow growth of cross-product margining
KfW justifies exemptions from Emir
German government-owned development bank KfW managed to win an exemption from clearing and margin requirements under European derivatives regulation - a benefit not extended to its peers. Luke Clancy asks why
Leverage ratio changes threaten European clearing model, industry warns
Proposed revisions appear to catch back-to-back trades that are used to get exposure into European CCPs
Sefs and exchanges echo EC's CDS licence complaints
Abuse of power?
DTCC announces executive management shake-up
The Depository Trust & Clearing Corporation has announced a shake-up of its executive management team
Single-name CDS clearing held up by fears over SEC regime
Temporary rules for portfolio margining by clients are set to expire in December. Hedge funds say they will stay on the sidelines until they know what happens next
CME default fund contributions likely to rise following CFTC move
A change in CFTC rules could lead to clearing members having to increase default fund contributions at CME and other US CCPs
Why CCPs are the new rating agencies – and pose the same risks
A clear alternative?
HMRC grappling with impact of UK bank levy on clearing
HM Revenue & Customs "does not wish to discourage" client clearing business, which is caught by UK balance sheet tax