Over-the-counter (OTC) derivatives
‘Wrong type of liquidity’ spells trouble for energy hedges
Cyclical lull conceals structural shift as liquidity becomes shorter-dated and more flighty
US banks fear margin rules could hit emerging Asia liquidity
Unequal margining requirements may be a turn-off for local counterparties
IFRS 9 expected to boost options with corporates
New rules limit options volatility in P&L; some hedgers already taking advantage, banks claim
Clients should prepare to pay MVA costs, say dealers
Risk USA: Banks say new trades and novations create real funding costs
CSA reviews necessary after Sonia reform, lawyers warn
Benchmark administrator change may require amendments
A referendum on clearing
Brexit margin calls show swaps CCPs are relying on funding strength of a handful of banks
Huge Brexit margin calls stoke intra-day funding fears
Calls on June 24 may have topped $40 billion; critics urge regulators to review episode
Swap 4175: how a hedged loan became a €600m dispute
City of Linz v Bawag case underlines risks in municipal derivatives
BoE plans could force change to Libor-Sonia swap payments
Reformed Sonia proposals may see floating-leg settlements delayed
Eight months needed for smooth Asia variation margin roll-out
The alternative is an unprecedented repapering exercise, writes Isda's Scott O'Malia
Hidden risks for corporates in renewable energy PPAs
Buyers face load, covariance and basis risks in typical agreements
EU bid to fast-track non-cleared margin rule slammed as ‘reckless’
Requiring banks to post initial margin before year-end 'would be risky', says SocGen's Litvack
AIFs may struggle to meet March margin deadline
Lawyers warn some AIFs may not be ready for the start of Europe's variation margin regime
Non-cleared margin transfer rules vex asset managers
Market split on whether MTA applies at the client or account level
Swaps market mutation could replace managed change
Banks are finding it harder to control the future of the swaps market – that's no bad thing
CME set to clear CMBX index swaps
Product to clear next year amid fears of falling liquidity from new non-cleared margin requirements
EU non-cleared margin regime set to take effect in January 2017
EC expected to publish its final non-cleared margin rules on October 4
Banks warn prime brokerage clients of ‘material’ MVA costs
Some buy-siders reassessing relationships as a result
Plastics hedging rising amid US chemical industry boom
Several obstacles limiting potential growth, say plastics market participants
New margin timing rules may pose problems for buy side
Dealers warn clients could struggle to meet incoming T+1 deadline for variation margin
March margin deadline may force clients onto new CSAs
Dealers say they lack capacity to renegotiate thousands of existing collateral agreements
Banks missing margin transfer deadline due to timezone clash
Euroclear shuts at 12:15pm New York time, causing some US banks to miss T+1 cutoff
Margin rules push interdealer inflation swaps to clearing
Traders say 95% of the market now cleared, compared with 10% a month ago
Brokers woo new clients, try not to upset old ones
Broker rankings 2016: Swaps market still bifurcated, but boundaries are blurring