Clearing
After the dust settles
Settlement risk
All Clear?
Despite a recent large increase in volumes, clearing for commodities remains a contentious issue, with little agreement on what the best business model should be, and insufficient standardisation, say market participants. Rachel Morison investigates
Banks agree to EU CCP for clearing CDS
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Clearing single-name CDSs may prove uneconomical
High margin requirements may make central clearing of single-name credit default swaps (CDS) impossibly expensive, according to one clearing specialist.
EU convenes working party on derivatives
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The price was right
Credit derivatives
Banks move towards clearing for FX, interest rate and equity
A large part of the over-the-counter derivatives market will shift towards central clearing houses by next year, as the collapse of Lehman Brothers on September 15 forces banks to reassess counterparty risk posed by other dealers.
Europe closer to cash equities code of conduct
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UK Treasury proposes clearing solvency reforms
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Ecofin releases statement on clearing and settlement
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Measuring the value of clearing
Central clearing houses offer major advantages to the electricity trading industry, says UK Power Exchange’s Paul Danielsen. He sets out a practical example to demonstrate how UK power firms can benefit from clearing
Progress continues on EU single payment area
Frankfurt – The European Central Bank (ECB) is continuing its push for the creation of a single euro payments area (SEPA), and the private sector is working hard to keep up with the pace of change.
The case for financially settled contracts
Banks and hedge funds have shied away from trading electricity due to fear and ignorance of the physical nature of the market. But, as Todd Bessemer of Accenture points out, financially settled contracts can avoid the complexity of physical delivery and…
Margin notes
Brett Humphreys explains how to measure and manage margin risk, an often-overlooked – yet often-significant – risk exposure
US retreat hits European trading
The retreat of US energy firms from energy trading has reportedly hit European volumes hard. But volumes aside, James Ockenden finds that the withdrawal may bring a fundamental change in the market. With additional reporting by Eurof Thomas