Clearing
OTC Derivatives Clearing Summit Europe: EU clearing mandates unlikely before August 2013
The first clearing mandates are unlikely to be in place in Europe before August 2013, says Bank of England’s head of payments and infrastructure division
Rule changes make it harder for small firms to use CCPs - Risk.net poll
Esma's decision to make indirect clearing an optional service could leave smaller firms without clearing access, according to a poll of Risk.net readers
CFTC’s clearing timeline prompts backloading "meltdown"
A re-reading of the CFTC's phase-in rules for central clearing is prompting alarm among buy- and sell-side firms
Lack of critical mass in biomass
A lack of critical mass
Indirect clearing: The capital conundrum
Draft European Securities and Markets Authority rules on indirect clearing caused uproar when they appeared in June. The regulator removed the most controversial elements in its final text, but dealers are still in the dark about the capital treatment…
Standard docs may not prevent clearing contract crunch
Preventing a clearing contract crunch
Client clearing: Soaring volumes disguise scary workload
Not clear yet
Gazprom Marketing & Trading: Powering up for clearing
Powering up for clearing
Final Esma clearing rules too rigid, CCPs say
Regulator has not given clearing houses enough freedom to calculate margin requirements, critics say - and Europe's CCPs may have to charge more for futures than their US rivals
Energy Risk Europe: EC official questions energy industry estimates of clearing costs
Industry estimates of clearing costs met with scepticism
Indirect clearing to be overhauled in final Esma rules
Indirect clearing will not be compulsory, sources say – and a controversial 30-day guarantee for indirect clients will also be removed
CME’s new swap future uses Goldman Sachs patent
Licensing agreement could be worth up to 20% of revenues from patented contract, and is seen as an attempt by Goldman Sachs to hedge its bets as new rules threaten OTC market profits
Esma sidelined consultative group during rule-writing
Industry group was not convened as Esma drew up draft clearing rules
Unclear on clearing in Germany
Unclear on clearing
Regulation to hit bank profitability - Risk survey
Dealers expect new rules to hit the profitability of their business, but fewer expect to be able to pass the costs along – and more are anticipating a big drop in OTC trading volumes
Eurex looking to clear OTC derivatives from Asian clients within 12 months
Eurex is latest clearing house to enter Asian market
Industry slams 'unworkable' Esma proposals on indirect clearing
Clearing members would be forced to guarantee trades executed by their clients' clients - on terms the member firms have not agreed
End-users will stop using derivatives – Risk.net poll
Proposals to require derivatives users to post initial margin on uncleared trades will cause many end-users to stop using derivatives, say a majority of survey respondents
Acclaimed new TriOptima service may not have a future
In the balance?
Central banks working on liquidity support for CCPs, says BoE’s Tucker
International regulators and central banks trying to avoid "nightmare" of fragmented clearing system
SGX puts margining framework in place for cleared securities
Singapore becomes the first exchange in Asia to implement Iosco principles