Clearing
The last word: Collateral and CCPs
The leading question
First person: Passporting central securities depositories
CSDs in harmony?
No improvement in porting since Lehman, CCPs say
The collapse of MF Global last year saw clearing houses struggle to port client collateral to other firms - repeating problems seen after Lehman Brothers filed for bankruptcy in 2008
Energy Risk USA: End-user exception to clearing impractical experts warn
The Commodity Futures Trading Commission’s proposed rule on the end-user exception to clearing is unworkable for many energy firms that use swaps for hedging say market experts
SwapClear changes expulsion rules
SwapClear changes expulsion rules
LCH.Clearnet splits default fund
LCH.Clearnet splits default fund
New ratings paradigm requires careful handling
The rate escape
Clearing certainty
In depth: clearing certainty introduction
Push, ping or hub: industry tackles risk of clearing fails
Push, ping or hub
Isda AGM: CCPs fear clearing stampede
Market participants now have months, rather than years, until the Dodd-Frank clearing mandate takes effect - and CCPs are worrying about a last-minute rush
Isda AGM: Margin regime ups liquidity risk, buy-side firms warned
Collateral demands will be pro-cyclical - rising as markets become stressed - and will be generated by uncleared as well as cleared trades, DE Shaw treasurer tells Isda conference
To clear or not to clear? Corporates urged to weigh options
Despite hard-won exemptions, corporates should consider the pros and cons of clearing, according to panellists at an ACT event - but treasurers remain unconvinced
CPSS-Iosco lifts cloud on forex options clearing
CCPs do not have to guarantee settlement, CPSS-Iosco rules - but issue could still have some way to run
Ever heard of the WGMR?
Working Group on Margining Requirements is keeping a low profile
Regulators look out for clearing dodges
Out of the clear?
Each: CCPs seek safety in numbers
Each and everyone
US clearing head leaves Morgan Stanley
New York-based client clearing head leaves as OTC clearing competition hots up
Canada clearing paper will not address CCP location question
A consultation on OTC clearing is expected in the coming months, but a key question will not be answered
Risk Annual Summit: Central clearing divides buy side
A hammer to crack a nut, or a chance for everybody to win? Buy-side panellists disagree on the merits of central clearing
Risk Annual Summit: No answers on how to cope with CCP default, says Pearson
Regulators are looking at how financial markets could be proofed against the collapse of a CCP – but there are more questions than answers at the moment, says the EC’s Patrick Pearson
Dealers worry about risk of $500bn overnight liquidity drain
Dealers are concerned that intra-day margin call guidelines, which they claim could drain up to $500 billion from financial markets, could make it into final CPSS/Iosco principles
FSA: facing up to cross-jurisdiction conflicts
Juggling across jurisdictions
More sovereigns edge towards two-way CSAs - and clearing
Towards two-way CSAs
Lsoc should not be introduced for futures, CFTC hears
Lsoc is 'not fit for futures'