Operations professionals in Europe look across the pond for lessons in managing shorter settlement cycles
Basel III, T+1 and EquiLend scandal all incentivise clearing, but also disintermediation
New swap platform hopes to ease funding pains, but can it promote more use of PvP?
The authors investigate how a paralyzing cyber attack on one or more banks would spread to other banks through the Canadian wholesale payment system and simulate various scenarios, evaluating the total disruption to the payment system.
Settlement mismatch expected to raise creation and redemption costs
Microsoft’s analog technology twice as accurate compared to IBM’s quantum kit in Barclays experiment
Two prominent industry bodies file legal papers in key court case over SEC’s proposed extension of dealer definition
US judge clears way for case in which pension funds allege dealers manipulated CDS settlements
Risk Live: Many non-US firms yet to realise FX implications of the country’s shift to shorter settlement times
Faster settlement will create cash shortfalls for non-US asset managers
Risk-weighted assets for Japanese lender’s unsettled transactions cross ¥300 billion mark in the first three months of 2023
Swiss bank tested various use cases in the trading business before giving up on the technology
Cash-like tokenised instruments find takers; initiatives based on less liquid assets struggle to take off
The authors investigate the two settlement mechanisms found in the Lynx payments system, finding that the highest liquidity efficiency is achieved if all payments were sent to the mechanism allowing offsetting.
C$3.5 billion RWA figure marks one of the heftiest capitalisation of held-up trades ever by a bank
The SEC is pushing an aggressive schedule for faster settlement of equities and corporate bonds
Automated market-makers are already used for EUR/USD trades – now can they tackle settlement risk?
Regulated venues say rival firms might unfairly escape oversight in activities such as blocking trades and price aggregation
Initial margin, SA-CCR and Archegos fuel comeback of total return swap clearing, but scepticism remains
US Treasuries dealers say clearing won’t help post-Covid illiquidity – and could harm it
Blockchain-based platforms from JP Morgan and Broadridge offer smart contracts that enable intraday repo
Russian ruble close-out pain triggers calls for voluntary multilateral pricing framework
Revised markdowns suggest bond giant has already crystallised losses on sold credit default swaps
Sources question landmark projects' ability to use technology at scale as further delay besets ASX deployment