Clearing
LCH units bolster liquidity buffers
Cash at central banks and with commercial banks higher in the second quarter
EU’s further intragroup clearing relief: banks want more
Esma proposes to extend exemptions from clearing obligation but industry wants permanent solution
Searching for the end of Giancarlo’s white-paper trail
CFTC chairman faces key test to turn thought leadership into real reform
Stuck in traffic: EU turf war holds up CCP resolution rules
Unsuitable rules for failed banks could be used to resolve French and German clearing houses
Asia moves: SFC names new chairman, LCH hires regional head, and more
Latest job changes across industry
NSCC posts $137m margin breach
Securities CCP records largest margin shortfall since public disclosures began
Swaps data: Sonia growth spreads down the curve
New figures show boom in sterling OIS swaps is not limited to short-dated trades
Unfinished business: US Treasuries reform stalls
Efforts to improve clearing and settlement of US government debt – and oversight of who trades it – still incomplete
Brexit: listed derivatives face OTC mutation
No-deal would flip EU27 users into different regime for UK-listed trades
FICC concentration risk ebbs
Open positions in government securities held by ten largest clearing members falls to 37%
Day one of a no-deal Brexit: swaps and chaperones
Banks, trading platforms, repositories tee up EU entities – and dread the repapering crunch that would follow
SEC finally moves forward on single-name CDS dealer rules
Commissioner Peirce wants rest of dealer regime completed within “weeks”, but no word on clearing
EU clients face axe from UK CCPs
But Esma’s Maijoor offers lifeline, calling for continued access for EU members
Q&A: CFTC’s Giancarlo on the race to overhaul cross-border rules
New Sef rules imminent, but deference to foreign regulators may not be completed by 2020
Paypals: Eurex members await their pay day
Profit-sharing scheme has created more competitive swaps landscape
Banks cry foul over LCH compression policy changes
Allocation of compression slots favours TriOptima over competitors, critics say
Skin in the game
This paper analyzes the cost of putting aside capital as skin in the game (SITG).
CFTC’s cross-border clearing plan faces long haul
US clients warned not to expect access to foreign exempt CCPs for at least a year
BAML may rejoin China swaps market after US policy shift
Clearing exemption removes swaps deterrent as bank seeks to hedge growing China exposure
Nasdaq slow to share defaulter info with peer CCPs
“Why didn’t you tell us earlier?” other clearers want to know
Spotlight on auction in €114m Nasdaq clearing blow-up
Four-member auction may have turned 39% margin breach into huge default fund loss
FIA transfer protocol sets Brexit plans in motion
Some banks set to begin transferring clients to EU affiliates next month
Lehman’s ghost: how three CCPs anchor models to crash
The Lehman crash still haunts the margin models of LCH, CME and Eurex, albeit in different ways
Buy side could be biggest voice in key margin decisions
Asset managers encouraged to join Simm’s daily polling mechanism – despite some dealers’ concerns