What will clearing cost?
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
In the balance?
Singapore becomes the first exchange in Asia to implement Iosco principles
Margin efficiency: The new battleground
One pot, three CCPs
CCPs will not be too big to fail
Basel Committee addresses long-standing complaints over default fund exposures and client clearing
Working group publishes proposed margin rules for uncleared trades – bringing global rules in line with an earlier US proposal
LCH.Clearnet's re-launched CDS clearing service adopts a loss-sharing mechanism - in line with a "last gasp of breath" approach outlined in an Isda letter to the Bank of England
Central counterparties are about to take centre stage in the revamped over-the-counter derivatives markets – a development that has given rise to a set of global principles for their management and supervision. William Dudley, president of the Federal…
Preparing the ground for the derivatives deadline
Posted collateral cannot be used to offset liabilities when calculating farm credit banks' leverage ratio
Added cost and mutualised risk will discourage direct clearing participation, panel concludes
The leading question
SwapClear changes expulsion rules
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
Trio of rules - on liquidity, clearing and margin for uncleared trades - will hoover up vast amounts of collateral, market participants fear
Working Group on Margining Requirements is keeping a low profile
The extraterritorial scope of US margin rules would have left US banks’ overseas swaps business in tatters, but an international working group looks set to deliver a reprieve by endorsing similar rules
Out of the clear?
Each and everyone