FCM

First FCM completes production testing with CreditLink | Market Infrastructure

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Things are moving fast in US and the first FCM has completed its production testing with CreditLink. One of the fundamental points of CFTC regulation 1.7 provides that clearing firms and buy-side firms should be able to ensure certainty of clearing acceptance by their clearing member at the time of execution and this service offers them the ability to manage trading and clearing limits in low latency for interest rate, credit and foreign exchange (FX) swaps.

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Markit and Traiana? Is there room for both?

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As SEF rules will come into force later this year, CreditLink by Traiana and Credit Centre by MarkitSERV, both prepare themselves for launch even though both concede there may only be room for one, and dealers have been pressing for a single hub.  One more link in the central clearing chain is the need to ensure that an executed trade won't be rejected by a CCP due to a breach of either the client's credit limi

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The week that was (issue of 2nd April 2013)

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Dear all, ISDA publishes March 2013 Dodd-Frank Protocol The International Swaps and Derivatives Association (ISDA) has published the ISDA March 2013 Dodd-Frank Protocol (DF Protocol 2.0), which is intended to facilitate industry compliance with three final rulemakings by allowing market participants to supplement the terms of existing written agreements under which parties may execute swaps; or enter into an agreement to apply selected Dodd-Frank compliance provisions to their trading relationship in respect of swaps.

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FCM Residual Interest - "changing an ecosystem which has existed for decades"

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60 seconds to clearing

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An email from the CFTC last year defined the timing for FCMs and CCPs to accept trades for clearing. Unfortunately the scope and intention of the email wasn't crystal clear, so take a log at this blog post (jointly written) discussing the issues, here

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