Risk.net research finds 28 of 50 large companies now have CSAs – but has the trend run its course?
Some EU watchdogs are not enforcing mandatory clearing for trades between region’s banks and UK pension schemes
Mid-2021 clearing, margin thresholds loom as LME, Ice futures lose exchange-traded status in EU
Citi’s former clearing head says CCPs are still competing on margin
Concentration in cleared derivatives: the case for broadening access to direct central counterparty clearing
In this paper, the authors explore the benefits and challenges of encouraging major end-users of derivatives to become direct clearing members of central counterparties (CCPs).
We present new evidence of the distribution of risk in client portfolios and use this to motivate clearing policy improvements.
Efforts to address duplicate Mifir trading obligations stymied by UK-EU negotiations
US bank creates clearing co-head role in wake of Kemp’s retirement
10 years on, David Murphy says mandate should be rebased to exempt less risky firms
Emir Refit, which seemed to promise reporting relief for corporate users, is not a master key
Temporary relief measures held down growth of exposures at US, Swiss lenders
Outstanding amounts fall 12 quarter-on-quarter
Esma suggests foreign-headquartered firms can’t benefit from intra-group exemption
Dealer saw credit derivatives notionals balloon £58.1 billion over the first half
As swaps leverage shrinks, bankruptcy stay rules are not guaranteed to reduce systemic risk, says economist
Seventy-three per cent of respondents expect tight price and non-price terms through September
PRA capital relief for market risk eased the CVA burden at some lenders
Participants want better OTC transparency, but say Esma’s efforts at clarity could muddy the picture
Council will ban resolution authorities from dipping into clearing members’ initial margin
Options-based structures gain ground on margin loans – and dealers say it may be a structural shift
Clearing members say clients aren’t transferring material volumes from LCH to Eurex rapidly
Mooted changes to Europe’s transparency regime are dividing markets – largely along functional lines
Wait for DoJ assurances could delay Libor transition plans and further unsettle rates trading