Clearing
Legal experts identify end-user issues under new US act
As US regulators embark on redefining over-the-counter derivatives trading, energy end-users need to be aware of how they will be categorised and the potential impact on trading costs.
Passage of Dodd-Frank Act heralds start of rule-making process
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
Reform bill forces energy risk management rethink
New US derivatives regulation is expected to compel companies to redefine their risk management strategies
EFET calls for exemptions from mandatory trade clearing
EFET calls for energy companies to be exempted from mandatory clearing as proposed by the European Commission
Derivatives clearing: a selection of coverage from Risk.net
Derivatives clearing is one of the hottest regulatory topics at the moment around the world.
Experts examine US power clearing and netting needs
As the US Congress moves to boost derivatives clearing requirements, an industry panel has called for regulators to investigate a move towards clearing and netting across US power markets and to clarify the legal uncertainty in the area
NY Fed discourages use of bespoke derivatives
Post-trade reporting and collateral seen as way to push OTC derivatives towards central clearing
LCH.Clearnet re-values $218 trillion swap portfolio using OIS
Changes in valuation were “relatively small”, says clearing house
BIS position on OTC clearing eligibility at odds with EC
BIS top economist suggests all OTC derivatives could be standardised and sent to CCPs, but EC favours a more measured approach to determining clearing eligibility.
Financial reform to be decided in US
US financial reform edges closer as legislators prepare for the reconcilation of the House and Seante bills
Gensler calls for end to financials’ information advantage
CFTC chairman supports trading requirements in both versions of the financial reform bill that would benefit derivatives users rather than Wall Street banks, but calls for tighter exemptions to prevent systemic risk
Valukas' findings challenged by Lehman lawsuit against JP Morgan
Intra-day credit debate re-surfaces as Lehman Brothers Holdings (Inc) (LBHI) accuses JP Morgan of coercing it into agreements that allowed JP Morgan to get hands on collateral
Clearing no panacea for risk mitigation, panellists agree
Participants warn against one solution for all asset classes
15 minutes with: Eric Litvack, SG CIB
SG CIB's Eric Litvack talks to Risk about the implications of evolving rules on bank capital and OTC derivatives.
Sparks fly on regulation during Isda's annual general meeting
Heated debate over financial regulatory reform going through the US Congress was at the forefront of the International Swaps and Derivatives Association’s annual general meeting in San Francisco last month.
Right place, right time
Eileen Robbins, vice-president in operational risk at the Depository Trust & Clearing Corporation, has a history of turning up just as things are kicking off. She talks to OR&R about the DTCC’s much-lauded handling of the Lehman Brothers collapse, and…
FIA recommends DMA risk management controls
A Futures Industry Association (FIA) report published yesterday aims to establish best practices in managing the risk surrounding direct access to exchanges.
Isda AGM: 'Trepidation' over central clearing, admits CME
Uncertainty over the final shape of regulatory reform is reportedly making buy-side firms wary of committing to central 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…