Clearing
Reform bill passes Ag Committee before full Senate debate
The US Senate Committee on Agriculture, Nutrition and Forestry has approved the Wall Street Transparency and Accountability Act, containing some of the strongest derivatives reforms proposed since the financial crisis.
Buy-side CDS clearing 'not really happening'
Despite regulatory calls for buy-side clearing of credit derivatives, few client trades are being cleared.
LCH.Clearnet CEO calls rival 'reckless' as Fannie, Freddie clearing battle heats up
Politicians love the idea of central clearing, but with competition for this new business increasing, so are concerns some venues might not be robust enough.
Future options
Tomorrow’s derivatives market looks likely to shift away from exotic products to focus more heavily on centrally cleared vanilla trades. Dealers hope to see a big jump in volumes, which will offset a smaller decline in margins. They also have an eye on…
Hitting the groundwork
As head of the EC’s financial markets infrastructure unit, Patrick Pearson is leading the effort to draw up new European legislation for derivatives. He talks to Risk about the progress of that effort and the importance of aligning the rules with similar…
To be clear on OTC regulation
The US House of Representatives passed a bill on December 11 requiring all standardised derivatives contracts traded between dealers and major swap participants to clear through a registered clearing organisation. The Senate is preparing to debate its…
Valuation & transparency sponsored forum: Derivatives valuation – challenging the process
Valuation of derivatives instruments has become a key focus for regulators and banks since the onset of the financial crisis, leading to greater demand for transparent and independent valuations. A group of industry experts convened in London recently to…
Ice receives CFTC clearing registration
IntercontinentalExchange (Ice) has been granted limited registration by the Commodity Futures Trading Commission (CFTC) as a US derivatives clearing organisation (DCO).
Nodal Exchange offers first real-time LMP contracts
Nodal Exchange launched eight contracts today, its first to settle against real-time Locational Marginal Price (LMP).
Stuck in the muddle
Regulators in the US and Europe are making efforts to extend central clearing to all asset classes. However, dealers argue that central clearing does not make sense for foreign exchange. By Alastair Marsh
Corporate concessions
Corporates have argued initiatives to introduce over-the-counter derivatives regulation in the US and Europe will severely hamper their ability to hedge. After an intensive lobbying effort, the politicians appear to be listening. Matt Cameron reports
Cleaning up
Asia’s exchanges have been slow to warm to the idea of a pan-Asian central clearer, which could create opportunities for foreign groups such as the Chicago Mercantile Exchange. Georgina Lee speaks with the exchange’s head of clearing, Kimberly Taylor
