Margin
A network model for central counterparty liquidity risk stress testing under incomplete information
The authors put forth a realistic network model that maximizes the use of data available to a CCP in order to simulate credit default contagion.
Legacy booking models impede NDF clearing, banks say
Novation lag holds up clearing of forex products; some say dealers are dragging feet
Masters: blockchain could ease margin headaches
Margining non-cleared derivatives a “massively under-optimised space”, says Digital Asset chief
The recent crises and central counterparty risk practices in the light of procyclicality: empirical evidence
This paper focuses on the risk practices of Central Counterparties in the light of their potentially procyclical features.
Non-cleared swaps compression battle heats up
Quantile, LMRKTS, Capitalab and triBalance jostle for supremacy in IM optimisation
Clearing portability under threat as FCM pool shrinks
Failure of big clearing brokers could see clients unable to move to stable competitors
Julius Baer calls for private bank margin rule exemptions
Existing client collateral provision sufficient, says firm
Non-cleared margin – a timeline
Milestones in the development of margin requirements for non-cleared trades
EEX futures contract triggers margining spat
Rivals criticise use of lower margins in marketing push
Asset managers lead the charge for voluntary clearing
Voluntary clearing volumes jump 80% as non-cleared margin rules take effect
Margin rules lead to NDF clearing surge
Banks look to finally clear forex products, but options remain a challenge
LSE forced to rework Curve deal over merger risks
Banks demand LSE use its own cash while awaiting verdict on Deutsche Börse tie-up
Buy-side forex trading curbed as margin rules take effect
Prime brokers will cut off access to dealers if they fail to agree revised CSAs
Shanghai to be first CCP to clear forex options
New service to debut in August, but liquidity risk has stalled other CCPs
Interview: Iosco’s Andrews stresses CCP resilience and recovery
CCP resolution spells regulatory failure; guidance to follow on PFMIs and CCP stress-testing
Barclays taps blockchain for equity swaps, options, swaptions
Regulatory capital savings offered by instant settlement of smart contracts on distributed ledgers
The challenges of derivatives central counterparty interoperability arrangements
This paper stuides a relevant policy question: does interoperability of cash equity CCPs also imply that it is beneficial to introduce interoperability for derivative CCPs?
Questions remain after final EU uncleared margin rules
Industry gives a positive welcome, but the treatment of non-netting jurisdictions is still uncertain
Smaller firms get boost on timing for non-cleared margin
Counterparties will be able to offset extra collateral calls, says source close to EBA
Blockchain tipped as fix for margin segregation
ISAs could move to distributed ledgers within 18 months, Barclays technologist claims
LME Clear ‘welcomes scrutiny’ of CCP risk management
Oversight from clearing members is good for central counterparties, says LME Clear CEO
Buy-siders hope for late reprieve on margining for non-cleared swaps
National supervisors coming round to industry view on same-day settlement, say sources
Operational risk technology product of the year (buy side): CloudMargin
Clearing adds complexity for small buy-side firms; CloudMargin aims to take it away
Dealers warn of hit to Asia from short margin transfer times
Japanese firms and Isda call for T+3 for cross-border uncleared swap trades