August 2013

'Articles' Deus Ex Macchiato » A summer daydream, part 2 01 August 2013 | Bill Hodgson

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.

'News' Cross-margining at CME slowed by practical challenges - Risk.net 01 August 2013 | Bill Hodgson

Interesting commentary on combining futures into an OTC portfolio at CME

'News' Uncleared swaps and higher initial margin; can a margin clearing mechanism reduce the pain? | Securities Finance Monitor 01 August 2013 | Bill Hodgson

Commentary by SFM on a piece in IFR about the idea of processing OTC products in a non-CCP centralised platform with net margin.

July 2013

'News' EMIR CCP Segregation Models Links 31 July 2013 | Bill Hodgson

In advance of a longer piece, here's the links to presentations by the various CCPs on how their EMIR segregation models work:

'News' SEF Applicants under the CFTC Rules 31 July 2013 | Bill Hodgson

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.

'News' Deus Ex Macchiato » A summer daydream, part 1 31 July 2013 | Bill Hodgson

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.

'News' Taxing Issues for Swap Futures 30 July 2013 | Ben Larah

The latest chapter in the story of swap-futures is detailed in a Risk article potential tax issues fo

'News' Front Office Analytics for CVA, Capital and Margin 30 July 2013 | Bill Hodgson

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:

'News' The New Cost of Hedging | TABB Forum Interview 26 July 2013 | Ben Larah

I was interviewed last week by TABB TV about Sapient's Cost of Clearing study.

'News' Are you prepared to report your derivatives transactions ? | Deloitte 25 July 2013 | Maria Leontiou

It's probably by far the best presentation on trade reporting I have come across, at least until today.

'News' What the banks’ three-year war on Dodd-Frank looks like - Sunlight Foundation 25 July 2013 | Bill Hodgson

Brilliant info-graphic on the engagement between many parties and the regulators over the last three years on the DFA.

'News' CCP Risk Assessments | How to Choose a CCP 24 July 2013 | Bill Hodgson

A new service from Thomas Murray aims to give firms choosing a CCP an insight into the underlying risks of the CCP itself, part of your due diligence process to justify whatever choice you make:

'News' Is CFTC "Guidance" law? 21 July 2013 | Bill Hodgson
'News' Did Swaps Businesses Dig Their Own Graves? | Reaction to FOW Article 18 July 2013 | Ben Larah

For those of you who missed Philip McBride Johnson's