Blog posts on LinkedIn Pulse by myself from May to August with useful infographics that assist with understanding collaterial efficiency, synthetic euro asset swaps, cross margining, client asset protection, and more.
Cross Margining at Eurex Clearing is provided by Eurex Clearing's innovative Prisma (Portfolio RISk MAnagement) portfolio margining risk management system which calculates Risk and Margin on a portfolio basis segmented by pre defined Liquidation Groups each comprising of closely correlated products within each group.
The application of the leverage ratio to client clearing is based on “ridiculous logic”, according to this prudential regulator, whose identity Risk has agreed to withhold. But it is not too late to fix the problem, the regulator says, and there are three ways to do so
With the launch of the GMEX Interest Rate Swap Constant Maturity Future (IRS CMF) on GMEX Exchange as of 7th August 2015, this article provides an example of how the contract can be used by an asset manager to hedge a physical bond position.
The Korean CCP provides data on progress in central clearing, both voluntary and mandated.
Another central counterparty for your list
Singapore Exchange (SGX) has a long and successful history of innovation in the derivatives markets. Central to this was early recognition of the benefits of offering customers access to a portfolio of regional Asian products in a single venue, based on markets which were largely closed to foreign investors or did not meet their risk management standards or trading practices.
Following the great success of our 1st Annual Post Trade Forum with more than a 100 participants, GLC 2nd Annual Post Trade Forum is aiming to unveil an exclusive gathering of experts from across the Globe. Discover the latest innovations to the issues in the field of post trade. This event will provide you guidance in the upcoming implementation of T2S, and listen to the first hand experiences of those, who are one step ahead of the game.
Inflation Swap Clearing commences on EurexOTC Clear on Monday 3rd August - this generates superior margin and capital efficiencies for both the Buy Side and Sell Side with ZCIS cleared within the Fixed Income Liquidation Group in Eurex Clearing's
Know Your Customer (KYC) central repositories represent the latest industry effort to develop an efficient and effective function for financial institutions coping with the increased regulatory requirements around KYC.
Current changes in the financial industry are proving to be costly for market participants. For example, the push by regulators for more centralised clearing of OTC derivatives means that portfolios will have to be split between cleared and un-cleared derivatives. Margining for OTC markets is also becoming increasingly complex and the management of assets delivered to cover these exposures are another source of cost. Knowledge that the cost of trading could increase further still has prompted many to re-asses their stance. Many are turning to market infrastructures with sophisticated triparty collateral management solutions such as Clearstream’s Global Liquidity Hub for a one-stop- shop solution to meet this multitude of challenges in an efficient and cost-saving manner.
See here for an article on the JDSupra site by Chris Borg of Reed Smith, providing some details around the rules which will apply to derivatives trades which are not cleared.
JWG analysis. It may have taken five years and five regulatory agencies to bring about, but the final version of the Volcker rule has officially landed.
ISDA's most recent research paper (attached below) provides evidence of the increased activity in compressions, particularly those to reduce the number of interest rate swaps.
Exchange operator aims to help banks comply with new derivatives rules
Here are my latest securitization issuance charts for the United States and Europe updated to the first half of 2015. I still plan to add charts for Australia, Canada and Japan but life and work have been interfering with that effort!
An interesting read on the state of market reform, from Scott O'Malia, ex-CFTC Commissioner
After the financial crisis in 2008, the simple definition of Collateral Management as a set of assets which should hedge the credit risk of financial transactions gained a new dimension. Constant development in Collateral Management had to move to the next level. With nine years of thorough market research, Fleming Europe has built a name for itself as an event organizer which follows Collateral Management trends, understands the market and its needs and offers professionals space to discuss issues weighing the current market down and to improve the prospects for scenarios of all kinds towards a brighter future.
The term — inter-affiliate trade — is hardly a household phrase. But it is at the heart of an important risk management issue, and consensus is growing that the issue needs to be addressed by policymakers.
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