Repo

Weekly Roundup | Clearing & Collateral Management | 6 March 2014

+0
5 Views

Clearing

Time to Embrace European Derivatives Competition

Share
Category

"Fixed rate full allotment reverse repo will become the Fed’s central policy tool" | Barclays research note

+0
17 Views

"We believe that the fixed rate full allotment (FRFA) reverse repo will become the Fed’s central policy tool" says Barclays Joe Abate in a research note last Friday.  I'm wondering if a Fed monetory policy shift from Fed Funds to FRFA rates will also prompt the shift of interest rate benchmarks from unsecured to secured funding rates.

Share
Category

Weekly Roundup | European Regulation | 10 February 2014

+0
8 Views

EMIR Special Issue 2014

Reporting requirements for over-the-counter derivatives trades go into effect on Feb. 12 under the European Market Infrastructure Regulation. As companies prepare, they also look ahead to mandatory clearing and the reporting of valuation and collateral, which are set to begin in the third quarter. Bloomberg Brief: EMIR Special Issue 2014.

Share
Category

Is FARP a taper alternative? | Fast start for the new Fed facility

+0
3 Views

The apparently fast start (Monday) of the Fed's FARP - coming just after the unexpected announcement not to taper - has caused some to speculate this is an alternative to the taper.  But is it?

Share
Category

Settlement houses in repo collateral deal - FT.com

+0
8 Views

I went looking for the source of this story on the FT below, as Philip doesn't really explain anything clearly and most of the article is background. Frustratingly there isn't a jot of information on the websites of Eurex, Clearstream or Euroclear (no capital C BTW). My interpretation is that Euroclear have linked to Eurex to allow their Repo business to settle using securities held in Euroclear, in addition to those in Clearstream, a win for both parties I suspect. If anyone has more information or a better explanation, let me know, Bill.

Share
Category

Turkish Law Firm Recommendation | Help Wanted

+0
7 Views
Iona Levine, well known to everyone as the previous General Counsel at LCH, and  co-founder of Minerva Chambers, will be in Istanbul and is looking to meet local law firms with a view to bringing business to them. Interested law firms should have a background in the many legal aspects of CCPs, clearing generally, REPOs and  OTC (ISDA) products, and be able to meet for an informal discussion on the work that Iona needs to bring to the Turkish capital markets.  Meeting dates would be during the week of 15th July
Share
Category

FTT and its impact on corporate and sovereign debt

+0
7 Views

A new report is out on the Financial Transaction Tax (FTT) and its impact on corporate and sovereign debt, written by London Economics on behalf of the Regulatory Strategy Group (RSG) and sponsored by the City of London. You can either get the pdf here or read a good summary at

Share
Category

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

+0
5 Views

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.

Share
Category

LCH Default Waterfall Update | Invoicing Back

+0
25 Views

LCH published a member note (here) regarding "invoicing back" which is component of resolving a default. There are two PDFs, of which the second sets out the order in which assets are used to fund the debts of a defaulting (direct) member, being:

Share
Category