Emir
Extremely (un)likely: a plausibility approach to stress testing
CCP’s risk managers propose a framework for generating extreme but plausible stress scenarios
Swaps users face potential margin bill for Libor transition
New margin rules could snare legacy trades amended to reference alternative rates, lawyers warn
Large corporates unconvinced by Emir reporting gift
Corporates ask for opt-out from Emir reporting changes proposed for their benefit
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
ECB and Esma would call shots on euro clearing
Proposals give central bank and regulator the power to bar biggest third-country CCPs
EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
Doubts plague Emir reporting clean-up
Industry still advocates single-sided reporting as a way to improve EU swaps data quality
Emir reporting relief for ETDs causes confusion
Market participants unsure who will report client-side leg of exchange-traded derivatives trades to CCPs
Emir review could push securitisations into the dark
Subjecting deals to margin requirements would be a further blow to STS securitisation concept
Deutsche Börse exec backs euro clearing landgrab
Swiss CCP operator Six x-clear defends current equivalence regime
Banks win concessions in battle over CCP margin models
European Commission proposal would shine light on clearing house margin charges
Esma wants more detail on CCP recovery plans
Isda AGM: regulator and industry emphasise need for effective clearing house supervision
Euro clearing location paper due on June 28
Short precursor on Brexit-related initiative expected on May 4, alongside Emir review
Dealers struggle with VM in non-netting jurisdictions
EU exemptions from margin posting are either hard to obtain or face client resistance
Ice rule change will see members post more cash
Changes pinned on CCP’s lack of access to Fed deposit account
Survey: CTRM system upgrades fail to impress
Commodity trading and risk management software moves to the cloud, but experts urge caution
‘Significant exposure’, Swiss rates and SIs
The week on Risk.net, March 3–9, 2017
Emir review delayed until June 7
Postponement increases risk of entangling the review with Brexit euro clearing debate
EC rebuffs euro clearing relocation policy in Emir review
UK pushes back against French demands to shift CCP business post-Brexit
OTC data under the microscope: Cleaning up derivatives data repositories
Sponsored feature: TriOptima
Monthly swaps data review: volumes rise, CCP switches spike
In the first of a new series of articles, Amir Khwaja of Clarus FT looks at the most recent batch of swaps data
Emir reporting updates put energy firms on alert
New reporting regime marks start of increased scrutiny for big players
EC could use thresholds to squeeze London euro clearing
Most euro clearing could be repatriated after Brexit without hitting other jurisdictions
Mifid equivalence delay threatens Hong Kong dual-listed stocks
HSBC, Stan Chart and Prudential shares could face trading disruption in 2018