Non-cleared trades
US dealers face trading lockout from small Japanese banks
Lack of substituted compliance for Japan's small bank margin rules causing concern
Banks seek to standardise cross-currency settlement dates
Talks under way to exchange principal amounts on IMM dates to allow for greater netting
Margin model keeps testing the limits of industry co-operation
Simm supporters say it is a work in progress, but more participants may slow that progress
Banks urge co-ordinated Asian reaction to CFTC swaps rule
Banks call for Asian regulators to unite against US supervisory overreach
Banks and clients clash over novation MVA charges
Some banks swallowing new margin funding costs, others forcing clients to pay up
Banks dismiss margin rule threat to synthetic prime brokerage
Growth in synthetic financing versus physical sees UBS, ING boost investment in prime brokerage units
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
Giancarlo: March VM deadline is ‘massive challenge’
CFTC commissioner calls on regulators to address buy-side concerns if needed
VM showdown a clash banks could not win
Clients clinging to hard-won CSA terms, in face of dealer calls for standardisation
Isda touts CSA standardisation in margining countdown
But scale of challenge becomes clear in early tussles between dealers and clients
Docs shock: how dealers are tackling the VM deadline
Scale and complexity of negotiations raise fears many will be unable to trade from March
Isda Amend faces rival in CSA repapering effort
AcadiaSoft to launch new tool in January, but protocol approach attracts wider criticism
OTC market resisting swap futures threat
Swap futures yet to break out, but backers see margin, accounting and Citadel as tailwinds
US banks fear margin rules could hit emerging Asia liquidity
Unequal margining requirements may be a turn-off for local counterparties
VM regime threatens explosion of small margin calls
Transfer threshold designed to avoid small payments is unworkable, critics claim
Indian CCP equivalence push hits data protection roadblock
CFTC demands India’s clearing house hand over information on trades involving US persons
Industry faces crunch time on Simm enhancements
If the required new risk factors are not added on time, firms may face a more punitive look-up grid
Regulators deaf to variation margin concerns, say dealers
Banks told they cannot lobby on behalf of clients over looming variation margin rules
Non-cleared margin rules confuse Asian private banks
Exotic OTC products for Asian high-net-worth investors could be under threat
Derivatives start-up aims to cut costs at margin hub
Ex-Morgan Stanley bankers’ offering aims to reduce daily collateral flows that currently top $200bn
O’Malia: renegotiate VM docs now to avoid March mayhem
Risk USA: variation margin deadline much tougher than September 1, Isda chief warns
LCH targets non-cleared market with radical new platform
Bilateral trades would be valued and margined using LCH swap curves
DRW, Goldman, Wells Fargo back swaps regtech firm
Droit gets $16m capital boost to support growth of cross-border compliance service