Clearing
China onshore OTC clearing postponed until 2014
OTC clearing onshore in China will be delayed until at least the end of 2013 or early 2014 according to an official at Shanghai Clearing House
Too much choice: The problems with Europe's plethora of segregation models
In the US, segregation of client assets is a simple matter – only one approach is allowed for over-the-counter trades. But in Europe, where there are more clearing houses, and no prescribed approach, things are messier. And it could be dealers, not…
Clearing chaos: US OTC industry braces for June deadline
Clearing – and present danger
Singapore set to be RMB gateway to Asean region
Trade lines
Isda AGM: CCP ‘Armageddon’ could lead to sovereign default, warns HSBC exec
Single bank default could affect multiple CCPs, leading to crippling default contribution for existing members and a chain of bank failures
Isda AGM: Dealers fear US-EU reporting clash
Industry calls for common trade reporting rules
Isda AGM: Big regulators hike pressure on small countries, panellists say
Initial margin requirements could increase liquidity strain on firms in smaller markets
Isda AGM: Clearing will magnify European FTT, warns UniCredit’s Lim
Planned one-basis-point charge will be levied multiple times in cleared trades – and could “kill the market”
Isda AGM: OTC trade reporting system in danger of fragmentation
The large number of trade repositories planned globally will reduce the quality of data, panellists warn
Isda AGM: Asia clearing houses to dominate, says survey
Many derivatives users in Asia expect to clear through local CCPs, creating the potential for liquidity fragmentation and higher costs
Q&A: Sylvie Matherat on extraterritoriality and central clearing
Europe and the US are at loggerheads over the territorial scope of new derivatives rules – as evidenced by a new financial stability review from the Banque de France – but agreement can be reached, says Sylvie Matherat, the central bank’s deputy director…
Op risk fears as OTC clearing gathers steam
The OTC market's complex new structure will lead to operational glitches, conference participants warn
New clearing rules have already been broken, FCMs say
Some client trades have not been cleared within 60 seconds
Nasdaq OMX to launch FX clearing in November
Stockholm-based clearing house becomes the latest to announce its intention to enter the forex space
Dealing with CCP proliferation
A variety of clearing houses are emerging in Asia – in some cases, backed by domestic clearing requirements for local currency derivatives. That poses some difficult questions for participants active across the region. Should they sign up to all of them…
SEC forces Ice into single-name CDS clearing U-turn
Clearing house has been told its own rules prevent it from shelving buy-side clearing for single-name CDS contracts
Markit and Traiana prepare for clearing hub showdown
Two firms now testing central credit-checking service
Late nights and illegality – but start of clearing in US goes well
The days either side of the first US clearing deadline saw last-minute decisions by clients and regulators, operational niggles and some illegality
JSCC to start client clearing by March 2014
Japan’s over-the-counter derivatives clearing house will soon allow member banks to offer client clearing and it also plans to merge with another domestic clearing house, according to a senior official.
Ice blames SEC as it drops single-name CDS clearing plans
Firms that trade index and single-name CDSs will see margin requirements increase
Risk & Return Cape Town: Treasury official calls for clarity on CCP equivalence
Lack of clarity on CCP equivalency leaves South African rules in limbo, says National Treasury's Natalie Labuschagne
Extraterritorial clash continues for clearing houses
While the Group of 20 nations want to see progress with financial regulatory reforms, individual authorities around the world are reluctant to relinquish domestic sovereignty over standards for central counterparties. Luke Clancy reports
SEC's last-minute CDS margin fix sparks buy-side anger
Stop-gap margin solution would force most firms to post twice as much collateral as CCP members