News
ORX to launch controls benchmarking service
App will be delivered via start-up tech platform led by former HSBC op risk chief
Private equity could lose biggest clients under SEC proposals
No existing rules compel pension funds to seek preferential terms. Big investors still want them anyway
Crypto derivatives should be banks’ ‘gateway drug’ to spot
Improved spot market liquidity means cash-settled derivatives shouldn’t be the end goal, says co-founder
BoE: regulators could push CCPs to publish margin shocks
Russia-Ukraine war has forced a tenfold margin funding burden, says BNP; Ice says smaller hedgers face disenfranchisement
Refinitiv uses rebates and speed to drive Matching liquidity
LSEG arm takes carrot-and-stick approach to market-making on primary venue
‘Trend’ triumphs in uncertainty, but not as it wanes – study
Quant investing approach thrives in extremes of market uncertainty; calm hinders it
FTX proposal could prompt wider clearing changes
FCMs say current clearing structure could end up adopting parts of crypto exchange’s novel approach
US prop traders face 1,117% capital hike on Treasury trades
Responses to SEC plan show PTFs’ alarm over threshold to register as Treasury dealers
Clearing industry braces for volatility ‘super-cycle’
Green transition may fuel higher cash demands and more risk events, FCMs warn
Exchange execs clash over LME nickel closure
Ice’s Williams says circuit breakers could have averted shutdown, but LME’s Combe defends ‘tough decision’
LME tear-up may have averted ‘multiple defaults’ – CEO
Decision to cancel nickel trades on March 8 forestalled ‘unprecedented’ margin call, argues exchange chief
Late EU clearing house recognition spooks dealers
Bank capital requirements on exposures to affected foreign CCPs could jump after June 28 deadline
Is DLT post-trade a solution without a problem?
Sources question landmark projects' ability to use technology at scale as further delay besets ASX deployment
Buy side looks to cash in on euro swap pricing anomaly
Fixed rates on long-dated €STR swaps now above their Euribor equivalents
Ukrainian debt holders brace for restructure
Investors could see a 40% haircut on the bonds, but it’s never that simple
India’s bespoke Basel rules leave foreign banks feeling exposed
End of non-cleared derivatives exemption leaves local branches scrambling for capital
People: Richardson rises at JPM, Barclays hires Zaimi in Apac
Latest job changes across the industry
Power-reverse to the future: falling yen revs up PRDCs again
Pressure on Japanese unit sparks revival in power-reverse dual currency notes
Hedge funds pile into renminbi FX options
Investors target call spreads and RKOs in what traders say is one of 2022’s most profitable trades
Europeans face longer wait for consolidated tape for ETFs
Issuers say lack of trading volumes is holding back a European ETF market that lags behind the US
New exchange to offer hedge for when private equity goes down
Rising interest rates increase financing costs, dispelling notion that private market assets only go up
FTX proposal prompts calls for CFTC rules review
Current bankruptcy and margin ring-fencing rules are incompatible with direct clearing, FIA says
In the age of bitcoin, buy side braces for 24/7 risk management
Investors forced to rethink “nine to five” mentality, as crypto exchange FTX proposes auto-liquidation model
JP Morgan’s deep hedging reaches cliquets
Euro Stoxx roll-out is live and S&P is next, despite exit of machine learning programme’s figurehead