Articles by Peter Madigan
CFTC approves Sef rules - and eyes block trade controversy
As agency approves long-awaited final rules on Sefs, CFTC staff say they could strip exchanges of freedom to set futures block thresholds
BNY Mellon, Goldman Sachs facing July swaps push-out deadline
Firms are among seven banks that will be subject to section 716 of the Dodd-Frank Act unless Federal Reserve gives relief
Swap push-out reform bill passes committee despite Waters opposition
HR 992 passes by 53 votes to six, despite protests by leading Democratic member on House Financial Services Committee
SEC cross-border rules an improvement on CFTC proposals, say lawyers
Narrower US person definition and substituted compliance proposal win praise from market participants
Data shows OTC notionals shrank as clearing started in US
Notional neurosis
CFTC investigates breaches of 60-second clearing rule
Commissioner O'Malia says agency has requested data from FCMs – Risk reported last month that some firms had broken rule 1.74
Standardised OTC swaps spice up futurisation fight
Returns of the Mac
Family offices taking charge of their own investment decisions
A family affair
Isda AGM: Template for standardised interest rate swaps launched
Isda and Sifma jointly unveil market-agreed coupon standardised interest rate swaps
Standardised OTC swaps to launch within weeks
Isda-Sifma working group discussions continue but trueEX prepares to list OTC swaps with standard coupons and IMM dates
Brokers lose index CDS volumes to new Tradeweb platform
Over $600 billion in index CDS volume switches to new venue where dealers guarantee liquidity to each other
Markit and Traiana prepare for clearing hub showdown
Two firms now testing central credit-checking service
CFTC: O'Malia on a mission to fix Dodd-Frank flaws
With the end of the agency's marathon Dodd-Frank Act rulemaking in sight, CFTC commissioner Scott O'Malia wants to go back and fix what he sees as mistakes. By Peter Madigan
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
Sefs: Dead on arrival?
Bloomberg is threatening to sue the US Commodity Futures Trading Commission over uneven margin rules that it fears will drive the market away from swaps and into new futures contracts. Peter Madigan reports
Swap regulations hold key to future of OTC algorithmic trading
The arrival of central limit order books in the interest rate swap market has opened the door to algorithmic trading – but only a little. Its future depends on how the over-the-counter market evolves. By Peter Madigan
Ice blames SEC as it drops single-name CDS clearing plans
Firms that trade index and single-name CDSs will see margin requirements increase
CFTC's O'Malia: No progress on Sef rules in past two weeks
Mid-April next window for vote, but no reason for optimism, says CFTC commissioner
CFTC's Gensler defends swaps vs futures margin disparity
Forthcoming Sef rules will not address margin concerns raised by Bloomberg
Huge settlements overwhelm op risk models
Capital punishment
Bloomberg threatens to sue CFTC over swap futures margin
Futurisation sparks struggle between exchanges and Sefs. Bloomberg fears "irreversible harm"
Gensler: OIS rate could be replacement for Libor
New benchmark must be based on "facts, not fiction", says CFTC chairman
trueEX: e-trading pioneer offering one-stop swap shop
In 1999, Sunil Hirani launched an electronic trading platform for credit derivatives, which sold for $625 million nine years later. Now he's back - and his new idea is an exchange for interest rate swaps. Peter Madigan reports
Family offices find an appetite for credit risk
Family wealth funds are dumping hedge fund positions and taking control of their own investment decisions. But as some move into direct lending – to replace retreating banks – they face new risk management challenges. Peter Madigan reports