Swap dealer
Barclays’ F&O clearing unit boosts client margin by $2.1bn
JP Morgan remains the FCM with the largest share of required segregated customer funds for futures and options trades
Dealers scramble to meet SEC swaps rule deadline
Dealers battle buy-side inertia and eleventh-hour confusion as belated security-based swap rules bite
Credit Suisse’s US clearing unit cuts client margin by 37%
Required segregated customer funds down more than a third since Archegos blowup
SEC revisits security-based swaps proposal
Sefs expect new trading rules for single-name CDS to be published “pretty soon”
Sefs stall, but more liquidity may be coming
The hoped-for competition among Sefs never was. But banks and prop traders might be facing off on swaps
Giancarlo opens door for prop firms to quote swaps
CFTC will grant no-action relief to non-banks that want to provide liquidity in cleared swaps
Giancarlo’s last stand: the race to complete Sef reforms
Part of flagship proposals could be left to his successor, putting their fate in doubt
CFTC finds harmony harder than it sounds
James Schwartz and Chrys Carey, of counsels at Morrison & Foerster, explore the impact of a recent Commodity Futures Trading Commission white paper – including how its author’s suggestions would affect cross-jurisdictional application of its regulations …
Dealers and FCMs split on clearing incentives
72% of client clearing firms say leverage ratio a clearing disincentive
Dealers slam ‘nonsensical’ treatment of forex derivatives
Proposal on US swap dealer threshold rekindles debate on definition of NDFs and window forwards
Brexit: banks consider four ways to move swaps en masse
Statutory business transfers in frame as bilateral novation may take too long
Tullett Prebon and the mystery Clob
How tpSef quietly kept voice broking alive in a regime designed for e-trading
Waiting for Giancarlo
CFTC no-action relief to be codified, but big changes on de minimis and position limits still distant
Q&A: CFTC’s Quintenz weighs swap dealer threshold impact
Activity-based threshold could be ‘disincentivising’ dealers, says commissioner
Quintenz: former CFTC leadership failed commodities end-users
Commissioner says regulator “poorly defined populations and risk” under Obama administration
CFTC’s Quintenz: dealer threshold could exclude cleared swaps
Commissioner suggests risks should be better considered in de minimis reappraisal
Onus to check swap data should be on counterparties – SDRs
CME, Ice and DTCC oppose duty to reach out to non-reporting party for data verification
Industry pushes CFTC to prioritise cross-border clarity
Approaching Mifid II deadline adds urgency to Giancarlo’s overhaul of Sef rules
CFTC to review swap data reporting regulations
Rule changes could be proposed as early as fourth quarter of 2017
Commodity swap data goes from bad to worse
Lack of regulatory guidance, collaboration and market confusion continue to plague SDR reports
Energy firms raise concerns over CFTC capital rules
Commercial swap dealers might not qualify for a treatment designed specifically for them
Banks seek escape from inter‑affiliate margin burden
Internal transactions contributing “substantial” amount of banks’ initial margin requirement
Natural gas house of the year: BP
Physical and financial capabilities give BP unique ability to provide long-dated consumer hedges
Banks explore spin-offs for cleared swaps desks
Non-bank dealers would escape Basel III; private equity seen as likely owners