Over-the-counter (OTC) derivatives
US CDS clearing drops to 11-month low in August
Retreat from CCPs tied to jump in uncleared contracts for peripheral geographies
Large US banks pile up CVA charges amid tariff shock
JP Morgan’s CVA risk-weighted assets saw largest jump in second quarter since Covid-19
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2025: We have a simple way to compare dealers. Sort of simple, anyway
Choosy dealers search for their sweet spot
Dealer Rankings 2025: No bank appears in every top 10 list, as data reveals shifting strengths
OTC books grew in 2024 but remain below peaks
Dealer Rankings 2025: US fund and insurer books were larger in 11 of 16 markets
Opportunity knocks as big US dealers step back
Dealer Rankings 2025: Third annual exercise shows top US dealers are less dominant, allowing Barclays and others to strengthen
Goldman Sachs tops third edition of Dealer Rankings
Dealer Rankings 2025: Citi slides, Europeans climb in annual analysis of US fund and insurer trades
Global OTC derivatives jump €72trn in 2024
Europe, UK, Canada and China hit record highs, while US banks pull back
LCH plans Q4 launch for FCM-style clearing
UK clearing house will be first to offer Europe’s new agent model as Eurex faces tax hold-up
EC moots postponing 122 delegated acts to cut compliance costs
Secondary legislation from CRR, Emir and Mifir identified as suitable for unspecified delay
DC hedges return amid tariff pause
Following a sharp drop in public deal flow in April, dealers say interest has come roaring back
Esma sounds out industry for ways to cut reporting burden
Markets watchdog asks consultative groups for ideas to simplify reporting rules
Market-maker/liquidity provider of the year: OTC Flow
Energy Risk Awards 2025: Environmental trader and broker furthers liquidity provision with new presence on exchange
APG upbeat on sustainability derivatives despite setbacks
Isda AGM: Dutch pension fund manager’s chief executive believes instruments have room to grow
BNP Paribas’s CVA risk charges swell 56% on Basel III overhaul
Impact of new formulas is largest yet for a G-Sib
Skin in the game: risk analysis of central counterparties
This paper proposes a novel framework to design the capital contribution of a central counterparty (CCP) to its default waterfall - CCP "skin in the game".
Dollar dip erodes AmEx’s overseas hedges by $198m
FX swaps shielding foreign equity stumble as greenback retreats
Systemic risk jumps at Chinese G-Sibs in 2024
OTC derivatives and securities volumes drive sharpest increases in 10 years
Tariff volatility pushes banks to tighten close-outs
Lawyers say dealers are looking to update playbooks for terminating derivatives trades
Goldman Sachs doubled FX trading revenues in 2024
Bumper Q4 powers bank to head of US dealer pack by foreign exchange revenue
CFTC takes red pen to swaps rules, but don’t call it a rollback
Lawyers and ex-regs say agency is fine-tuning and clarifying regulations, not eliminating them
Trump tariffs sent FX options traders on a wild ride
As US assets sold off, dealers found themselves on the front lines of a hedging scramble
US banks held record $78bn in equity collateral before market crash
Stocks made up 11% of dealers’ OTC derivatives collateral at end-2024 – highest ever reported
Singaporean banks see surge in systemic risk indicators
2024 figures show underwriting activity spike across the board