LCH has just published a document which provides an overview of the models that, subject to regulatory and other approvals, they intend to introduce across all services provided by both LCH.Clearnet Ltd and LCH.Clearnet SA.
Since the finalisation of the SEF rules by the CFTC there has been a rush of activity by players to register as a SEF and gather support from dealers.
More details about a new entrant to the Collateral Management market are now available at their website below.
OMX put out a press release on their IRS volumes and revealed they have a healthy trade flow, plus they are providing their members with a cross-margining solution for IR products beyond anything on offer at any other OTC IRS CCP.
A new CPSS-IOSCO consultative report puts forward a proposal for using non-defaulting clearing members IM to cover losses at a CCP. D.E.M.
Those of you that read my blog post SDR, Block Trade Rule, 30 July Update will know that from 30th July, we moved from the interim
Feedback I've heard more than once is that non-US firms are avoiding trading with US firms as a strategy to avoid the CFTC Dodd Frank regulations. This story from Reuters provides flavour around that idea.
As an experiment I'm changing the timing of the daily email with the news summary to 8am UK time Mon - Sat to see if this suits readers more.
An update from CME explains that later in August their OTC clearing platform will add four new currencies.
I've been aligning various domain names and accounts to clear up inconsistency, please act accordingly with the updates below.
I often notice that the different regulators and the different associated interacting market participants, utilities and commentators dissociate regulations of bank capital (e.g. Basel III) and accounting rules (e.g.
Over the coming 18 months many firms who choose not to join a CCP directly, will need to choose a Clearing Member (CM) to provide them with access to a CCP.
An intelligent article explains the poor progress made in getting Non Financial Companies, and the very large FCs to be prepared by using the relevant ISDA protocols, and engaging with LEIs.
A great paper from DTCC which paints a scary picture of the many ways our capital markets could be destabilised, including:
There has been much recent press on the investigations into ISDAFIX and whether this will turn-out to be similar to the LIBOR rigging
Bloomberg have integrated the Initial Margin calculations from SwapClear into their trading platform.
If you need a convenient way to browse EMIR documents, the UK FCA has a site which is handy, and somewhat easier to navigate than the ESMA site.