Clearing
European CCP rules stricter than US, says Eurex Clearing chief
Thomas Book, chief executive of Eurex Clearing, says it remains to be seen whether the standards for central counterparties set in Europe will be matched around the globe
Clearing certainty: Hubs hit heavy weather
Unclear over clearing hubs
The slow growth of cross-product margining
The slow growth of cross-product margining
CCP regulation needs to be regional, not national: SGX
SGX head of clearing risk urges greater cooperation among region's regulators
Upfront on clearing
Sponsored forum: OTC derivatives clearing
Single-name CDS clearing held up by fears over SEC regime
Temporary rules for portfolio margining by clients are set to expire in December. Hedge funds say they will stay on the sidelines until they know what happens next
CME default fund contributions likely to rise following CFTC move
A change in CFTC rules could lead to clearing members having to increase default fund contributions at CME and other US CCPs
Why CCPs are the new rating agencies – and pose the same risks
A clear alternative?
Risk Australia: Clearing broker collateral replacement mechanisms could put asset managers in breach of client mandates
Third-party collateral requirements not acknowledged in current standard clearing broker contracts
CPSS, Iosco and FSB publish reports on FMIs
CPSS and Iosco says member states are making ‘substantial progress’ towards establishing their principles for financial market infrastructures
Hubs will not fix clearing certainty issue, critics claim
Rival services from Markit and Traiana are gaining support, but detractors claim the hubs could be made redundant by CCP credit checks
Cross-margining at CME slowed by practical challenges
Only two FCMs are currently offering margin offsets between interest rate swaps and futures at CME
CME vs LCH.Clearnet: Clients may face CCP-specific pricing, warn FCMs
The two biggest clearing houses for interest rate swaps, CME and LCH.Clearnet, have different margin models – which may affect the prices charged to clients by clearing members. It could also affect the contest between the two venues. Joe Rennison reports
Trade rejections spark clearing document rethink
Industry group considers changes to the standard cleared derivatives execution agreement, following concerns that dealers have the unilateral right to terminate rejected cleared trades
Dealers ask Esma to bless Lsoc-based clearing
Industry wants to know whether an approach based on US standards will meet European requirements
All aboard: The trials and triumphs of the June 10 clearing deadline
A combination of hard work, caution and some luck saw the industry through the second of the three US clearing deadlines on June 10. But while it was a triumph for many, it proved testing for some. Joe Rennison reports
CME finalising plans for swaptions clearing
Swaptions said to have passed CME’s risk committee, and may now be included in CME Clearing Europe’s application to Esma for reauthorisation
FCMs split over capital for client clearing promises
Some banks believe capital is - or will be - needed to support guarantees to clients
ASX and LCH battle for Australian clearing market
Two's a crowd?
OTC clearing presents HFT opportunity in Asia
Over-the-counter clearing to present greater access and profitability to high-frequency trading firms as electronic trading of OTC products gets under way in Asia
US dealers stop trading to avoid breaching China privacy laws
Questions over the ability to report OTC derivatives transactions to trade repositories mean some US dealers have stopped trading with each other
Quant Congress Europe: BM&F Bovespa uses close-out model to cut margin
Netting and optimal execution effects may help other CCPs reduce margin requirements, says NYU maths professor Marco Avellaneda