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.
The Angelica gigas has finally popped it's flower heads - they've been emerging slowly over the past few weeks. Our garden is bee friendly, you can see why in the photos. Bill.
Concerns from Asia about providing CCP services into Europe, expressed in a letter from IOSCO to ESMA.
Those of you that read my previous post on the Block Trade Rule will know that on July 30th we move
Great write up for the site: It’s all geek to me: The OTC derivatives swamp | Dialogue.
ICE CLEAR EUROPE TO INTRODUCE CLIENT CLEARING FOR INDEX AND SINGLE NAME CDS ON OCTOBER 7, 2013; OVER EUR 12 TRILLION IN EUROPEAN CDS CLEARED TO DATE via Intercontine
Conclusion of this two part regulatory thriller. Readers are invited to send in their diagrams of what the cleared OTC market might look like once CCPCCPs are introduced into the market.
Interesting commentary on combining futures into an OTC portfolio at CME
Commentary by SFM on a piece in IFR about the idea of processing OTC products in a non-CCP centralised platform with net margin.
If you are a regular reader and enjoy the materials provided here (completely for free), there are things you can do to support the site:
In advance of a longer piece, here's the links to presentations by the various CCPs on how their EMIR segregation models work:
Analysis from Finadium over at their SFM blog: Deliverable Swap Futures: are they living up to the hope and the hype
I keep seeing news stories on firms applying to be a SEF, here's the one's I've seen, send in any others and I'll add them.
You can tell the heat has gone on too long in the UK.... I'm looking forward to part 2. Deus Ex Macchiato » A summer daydream, part 1.
The latest chapter in the story of swap-futures is detailed in a Risk article potential tax issues fo
One of the challenges facing traders in the future OTC ecosystem is the greatly increased indirect costs of each trade. Markit have added to their front office "IRM" tool the ability to analyse a trade in terms of:
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