News
New NMRF rules will push more desks to standardised approach
Restrictions on use of proxy data will bar banks from using internal models, conference hears
National supervisors put pressure on global risk models
Varied supervisory and external audit demands stretch cross-border risk management
FRTB could ‘kill’ local markets – South African banks
Dealers urge South African Reserve Bank to depart from Basel standards on NMRFs
CME plans sweeping overhaul of ageing Span model
New margin calculator will bring futures, options and swaps under single framework
NSFR pricing Singapore banks out of swaps market, dealers say
Market share in long-dated trades has halved since metric was imposed at start of year
EU seeks US-style freedom to delay rules
Power to grant “no-action relief” appears in proposals from EU Council and Parliament
Quant drought hits banks and funds in Asia
Limited pool of talent hindering expansion of sophisticated strategies across buy and sell side
Sef reforms could distort new, sounder benchmark rates
Tradition’s Fitzpatrick warns that more ways of trading swaps could dent progress made on fixings
Off-the-run barriers frustrate Jump Trading
Chicago prop firm has been unable to break into the market for off-the-run Treasuries
Let exchanges set position limits – CFTC commissioners
Agency lacks the resources to monitor limits, say Berkovitz and Quintenz
Nasdaq default: rivals question direct clearing
“Was this individual margined correctly?” asks Ice’s Sprecher
Banks scan chat and web for trading intel
Market-makers seek new signals on volatility and direction via natural language processing
Exchange chiefs back Giancarlo in tussle over CCP oversight
The CFTC may block US CCPs from acceding to EU supervision
China’s regulatory shake-up offers hope on close-out netting
New merged body will draft netting rules, with signoff from central bank, sources say
SEC’s Stein sounds alarm on portfolio margining
Comment period on single-name CDSs is covert attempt at rulemaking, regulator says
Basel to propose IM offset in leverage ratio
Four sources say draft will make concession; it could also revive EU-US segregation drama
SRB should publish banks’ MREL requirements, says Enria
But market abuse rules need amending to avoid SRB disclosing confidential resolution actions
Risk of no-trade lists as banks leave Brexit plans late
European clients could face bottleneck of contract transfer requests from relocating banks
Libor to become third-country benchmark under no-deal Brexit
UK-based reference rate would need to gain EU approval by end-2019 to avoid “unthinkable” disruption
EU’s further intragroup clearing relief: banks want more
Esma proposes to extend exemptions from clearing obligation but industry wants permanent solution
EU lawmakers open to delaying ban on critical benchmarks
MEPs propose two-year reprieve for Eonia and Euribor if contractual continuity is at risk
Bank bail-in rules put European insurers at risk
The major buyers of bank debt could suffer a domino effect if the bonds are bailed in
IBA launches term risk-free rates
Forward-looking one-, three- and six-month Sonia rates to be based on Ice futures data
Brexit: listed derivatives face OTC mutation
No-deal would flip EU27 users into different regime for UK-listed trades