Clearing

Gresham Wins Major Contract with Global Clearing Services Provider

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Unique ability to manage cross asset international processing demands identified as key differentiator in £1.2M contract

Gresham Technologies plc, the leading software and services company that specialises in providing real-time data integrity and control solutions, announced today that it has signed a strategic contract with a leading global multi-asset class Clearing House.

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CME Group to Launch Next Generation of CME SPAN Margin Methodology

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CME Group, the world’s leading and most diverse derivatives marketplace, today announced it will launch the next generation of its industry-leading Standard Portfolio Analysis of Risk (SPAN) margin framework – CME SPAN 2.  The new framework is slated for testing in the second half of 2019 and, pending regulatory review and approval, roll out in the first half of 2020.

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Current Clearing Rates

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The death of uncleared markets has been widely over-reported. We look at Clarus CCPView and recent BIS data to look at the size of uncleared markets. Interest Rate derivatives remain the largest, followed by FX. Credit is very small in comparison when measured by notional outstanding. We strongly advocate further transparency into the remaining stock […]

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CPMI-IOSCO Quantitative Disclosures 4Q 2018

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Clearing Houses 4Q 2018 CPMI-IOSCO Quantitative Disclosures are now available, so lets look at what the data shows, similar to my CCP Disclosures 3Q 2018 article. Summary: IM for CDS Clearing shows the highest growth, up 27% YoY IM for IRS and ETD both with decent growth, 9% and 13% YoY Most clearing services with higher IM, a […]

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CCP Clearing’s Expansion in the Asia-Pacific Region

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The path to central clearing in Asia has been slow and uneven. The four major exchanges in Australia, Japan, Hong Kong and Singapore are much farther along the road than other regional exchanges – yet they are all moving at their own pace and it is unlikely that the other countries will catch up anytime soon. Lynn Strongin Dodds reports.

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CCP Recovery and resolution: Incentives Analysis

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The International Swaps and Derivatives Association (ISDA), The Futures Industry Association (FIA) and the Institute of International Finance (IIF and, together with ISDA and FIA, the Associations) represent the largest number of participants in national and global clearing, banking and financial markets. This incentive analysis is following the Associations’ response to the FSB discussion paper “Financial resources to support CCP resolution and the treatment of CCP equity in resolution” (the discussion paper).

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Intercontinental Exchange Extends Global Product Licensing Agreement with Eris Innovation

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Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has extended its global product licensing agreement with Eris Innovations, an intellectual property licensing company that partners with global exchanges to design futures products based on its patented Eris Methodology.

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FIA Warns of Increased Market Fragmentation Caused by Regulation

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FIA President and CEO Walt Lukken today released a white paper that expresses FIA’s concerns about increased fragmentation of the global listed and cleared derivatives markets due to inconsistent and duplicative regulatory frameworks. Further, the paper urges regulators to embrace the principles of reliance and regulatory cooperation and makes recommendations on how to avoid increased fragmentation in the regulation of cross-border activity in the global derivatives markets.

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LCH Expands Non-deliverable Interest Rate Swaps Offering

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  • Brazilian Real, Chilean Peso, Colombian Peso, Taiwan Dollar, and Thai Baht-denominated non-deliverable interest rate swaps now being cleared at LCH
  • Bank of America Merrill Lynch, J.P. Morgan, and Standard Chartered among first participants to clear the new products
  • Members and clients have cleared all five currencies at launch
  • SwapClear now offers clearing for derivatives across 26 currencies
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USD Swaps Market vs Futures Market Size

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What is the biggest market in USD Rates? Are futures bigger than swaps? Are cash bonds even bigger? We build on important research from both CME and the CFTC to try to answer those questions. We look at Clarus data to measure the DV01 traded in both swaps and futures in long-end USD Rates. We […]

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