CCP
Client clearing not a priority for buy side
Clearing houses LCH.Clearnet and CME are extending their interbank FX clearing services to clients, but firms are showing little interest in clearing before they have to
Nasdaq OMX to launch FX clearing in November
Stockholm-based clearing house becomes the latest to announce its intention to enter the FX space
MarkitServ partners with Misys to boost FX clearing
Users of the Misys Confirmation Matching Service will be able to use MarkitServ's clearing connectivity to route FX derivatives to clearing houses
LCH approved for client clearing on ForexClear
The clearing house expects to begin client clearing for FX NDFs during the first quarter, and has now surpassed $500 billion in cleared volume for interbank NDFs
Emir clearing deadlines remain a challenge, industry warns
Preparing the necessary documentation for client clearing can take many months and could delay clearing under Emir, warn banks and clearing houses
UBS holds Swiss franc lead despite intervention
UBS wins best bank for the Swiss franc and best bank for post-trade services as it continues to provide liquidity despite the challenges posed by the EUR/CHF floor
Buy side weighs risk mitigation against clearing costs
Buy-side firms look certain to bear some of the costs that result from mandatory central clearing, with some suggesting they might look to clear non-mandated products, were it not for the prohibitive costs
Banks welcome Ice Link’s selection of Traiana to expand into FX
Traiana's network of banks, clearing houses and buy-side firms in the FX market will enable Ice Link to quickly expand from CDS middleware into forex
FX Week Asia: Exemptions offer little solace for corporates
Corporate treasurers remain concerned about increased hedging costs as a result of new regulation, and expect banks to pass the costs on – despite exemptions for corporate hedging
CME’s new swap future uses Goldman Sachs patent
Licensing agreement could be worth up to 20% of revenues from patented contract, and is seen as an attempt by Goldman Sachs to hedge its bets as new rules threaten OTC market profits
Banks weigh up CCPs as clearing deadline looms
The choice of clearing house in the FX market is currently between three firms, two of which are owned by exchanges. While some suggest exchange-owned clearers might be at a disadvantage, market participants suggest the choice ultimately comes down to…
Traiana wins EBS and Reuters deal for clearing connectivity
Traiana's Harmony CCP Connect will provide the plumbing for EBS and Thomson Reuters to connect to clearing houses and their members
Relief for dealers as Basel reins in capital for cleared trades
Basel Committee addresses long-standing complaints over default fund exposures and client clearing
Best FX prime broker: JP Morgan
JP Morgan wins FX Week’s first e-FX award for best foreign exchange prime broker, having set an emphasis on prudent risk management – both in its approach to high-frequency trading and to over-the-counter clearing
Bloomberg connects to CME for NDF clearing
Bloomberg has connected its FXGO platform with CME Group to enable NDFs traded on its platform to be cleared through the exchange
Esma exemption provides corporate relief
Corporates relieved at Esma clearing exemption, but express concern about uncertainty over uncleared derivatives
Spotlight on: Douglas Pelton, Lufthansa
Douglas Pelton, treasury manager in the liquidity and risk management division at Lufthansa, talks about the German airline's currency exposures and the evolution of the e-FX business
Banks hope for CCP capital concessions at Basel meeting
Banks and CCPs are pressing for changes to method of calculating default fund capital
CCP resolution plans start to take shape
LCH.Clearnet's re-launched CDS clearing service adopts a loss-sharing mechanism - in line with a "last gasp of breath" approach outlined in an Isda letter to the Bank of England
BM&F Bovespa plans to integrate clearing houses
Plan to combine four clearing houses into one will result in margin efficiencies of 30-40%, the exchange estimates
DealHub rolls out reporting and clearing platform
FX technology vendor is this week launching its so-called Smart Trade Reporting platform to help clients meet new regulatory requirements
Taiwan’s trade repository setting up reporting agreement with DTCC
Taiwan's new trade repository for over-the-counter derivatives is looking to ink a reporting agreement with DTCC
CME kicks off client clearing ahead of competitors
CME stole a march on rivals when it cleared its first NDF last week, as the Brazilian real contract was a client trade
US Treasury’s FX exemption hangs in the balance
A year after the US Treasury's proposed regulatory exemption for FX swaps and forwards, the position has never been confirmed - and some believe it may be reconsidered