DP have made a tool in which you can click on various types of exposure and see the underlying capital calculations relating. It includes the rules in the existing Basle 1 approach and the new Basle III approach.
A tiny PDF popped out on the LCH website which useful shows the revenue and notionals for the various LCH clearing businesses.
LCH now able to offer IRS, FX NDFs and CDS in North America.
Finadium has published a new report in which it presents the results of a new survey of large end-users in the OTC derivatives clearing and collateral market.
An interesting paper spotted by SFM, with their summary, a link to the original paper and further background. It needs time to read but worth it.
A brief profile of Markit and it's history. Markit: Plumbers in suits | The Economist.
The authorisation date for European Trade Repositories has moved, and therefore pushed the start date for all asset classes to Jan 1st 2014, just when the hangovers are worst.
It appears the company is now out of business, here A shame for the employees. Bill.
As CDS contracts continue to be perceived as the 'bad guys' in global finance, regulators are limiting their availability to be used as hedging tools, even when it's perfectly OK to use derivatives from other asset classes for a similar purpose.
Sometime this month we'll find out exactly how killed the non-cleared OTC market might be, with the new margin rules.
With a twist of the knife the EU parliament has added salt to the wound: any firm not paying the FTT will be legally not-entitled to 'own' the receipt of any securities, therefore making the trade null and void.
Tom Osborn at Risk covers the continued push by dealers to open the door to an ISA model which allows for a single collateral account (rather than one per ISA), keeping operations simpler and cheaper for the Clearing Members, and ultimately the Cl
The futures business at LIFFE has now switched from LCH to ICE over the weekend, bringing to a close a 30 year relationship. At the same time a new chapter opens with the NLX business aiming to capture exchange business to be cleared at LCH.
On 25th June 2013, ISDA has sent its members the pre-publication draft of the ISDA 2013 EMIR Portfolio Reconciliation, Dispute Resolution and Disclosure Protocol, asking them to provide their comments by Tuesday, 9 July.
The FIA Magazine has an article about the EMIR seg models (see link below, free), and summarises them here, I have my own views below on the hierarchy of models, but here's their summary:
Pushing exotic interest rate products through central counterparties is proving to be a tall order and could even endanger financial stability, industry participants have warned, as they wrestle with the complexity of clearing more bespoke over-th
Eurex have laid down an offer that any Member or Client who signs up by Dec 31st this year, then gets clearing largely free for two years.