On client clearing notional outstanding, Swapclear has so far outcleared CME in IRS so far by a factor of more than 4 fold ($4.62 trn vs. $1.01 trn as of March 13th). Note: CME client clearing will be less than $1.01trn to the extent of their dealer to dealer clearing volumes.
Too much information… |. Noah expounds on the state of the market, for anyone who hasn't visited his blog before, click on over for a legal view of the OTC world.
Until snow goes away everyone, enjoy a photo from Alonnisos island in Sporades.
ESMA moves to avoid CME rule 1001 in Europe, and will give the reporting party precedence in decided where to report their derivatives business.
Not literally referring to extra-large US citizens, the definition of "US Person" by the CFTC could cause many entities currently exempt from Dodd Frank, to get going and be part of it by June.
What do the hundreds of trillions mean and how can we compare this with other markets?
These past few days the media have all been about Cyprus' bailout plan.
TrueEx has registered as a designated contract market (distinct from a SEF) for interest rate swaps and has signed a clearing deal with CME for IRS clearing.
Earlier this week, LCH.Clearnet SwapClear started to publish daily settlement rates for key interbank/OIS swap rates in seventeen different currencies (see
Anyone else looked at the page below? I believe this shows you the closing prices at SwapClear, and hence the first time anyone has put out publicly data which tells you where the market (yield) is in these products.
If a non-European (or non-US) CCP doesn't apply for recognition under EMIR or Dodd Frank, banks in the EU or US may be blocked from being members of those CCPs. See article at Risk, subscription required.
You can't make it up - be careful what you wish for.
This is going a little off-piste but I'm hoping the wisdom of the crowd will help. I need to understand how the client limits process works in Equities and Futures.
Markit set for £4 billion market list after 13 years of rapid growth: Financial data provider Markit was testing the waters and talking to advisers about a float that would value the firm at above £4 billion, according to reports.
Over here This will be key to how new products reach mandatory clearing.
Sourced from http://tabbforum.com/videos/genslers-last-dance (login required, but free) Totally irrelevant but notable, I assume from the recent conference
A really good history of futures, which illustrates the passion by Gary Gensler to bring OTCs into the same framework.