CCP
Trading Places, June 21, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
EC derivatives consultation stops short of detail on corporate exemptions
BRUSSELS - A consultation paper on derivatives markets infrastructure published on June 14 by the European Commission gives extensive detail on requirements for central counterparties (CCPs) that clear over-the-counter derivatives, but has stopped short…
SGX signs 14 banks for derivatives clearing
SINGAPORE - The Singapore Exchange (SGX-DC) has signed up 14 banks and three financial institutions for its Asian forex forwards and interest rates swaps clearing initiative, due for launch in the fourth quarter.
Bilateral collateral agreements up in 2010
SAN FRANCISCO - Bilateral collateral agreements make up 83% of all collateral agreements in circulation in the over-the-counter derivatives market this year, versus 75% last year, according to a survey by the International Swaps and Derivatives…
Singapore Exchange moves into clearing
SINGAPORE - The Singapore Exchange (SGX-DC) became the latest to pitch clearing for foreign exchange products last week, with a proposal to clear financial derivatives, including Asian FX forwards contracts settled in US dollars.
European Commission undecided on FX treatment
The EU has not made up its mind about exempting foreign exchange swaps and forwards in its forthcoming legislation.
CME puts brakes on FX clearing
CME Group delays FX clearing; awaits regulatory clarity
Indian banks sign up for FX forwards central clearing
CCIL forwards clearing initiative sees slow take-up
Basel Committee reaches agreement on liquidity and counterparty risk
Reform proposal due this month
India adds its angle to clearing debate
CCIL allows economics to drive change
The forex clearing debate continues
Saima Farooqi asks how likely it is that fx swaps and forwards will be swept up in the OTC derivatives reforms.
Ice joins forex central clearing debate
ATLANTA - Jeffrey Sprecher, chief executive at Atlanta-based IntercontinentalExchange (Ice) has become the first major exchange official to call into question the need for central clearing of foreign exchange derivatives trades.
Options voters choose Deutsche's steady hand
Deutsche Bank took top honours in the options category this year, having come fourth in 2008. Consistency is the key to its success, said Kevin Rodgers, the bank's London-based global head of foreign exchange options.
US passes OTC derivatives reform bill
Regulatory change is coming to the over-the-counter derivatives industry in the United States.
UK's FXJSC puts brakes on forex CCP
The London Foreign Exchange Joint Standing Committee (FXJSC) has ruled out the immediate need to implement a central clearing facility to manage counterparty risk (a CCP) in foreign exchange, citing a series of mismatches in market conventions in a white…
CCPs may need public sector support
BASEL - Central counterparties (CCPs) could require public sector support in the event of simultaneous defaults of a number of participants, according to economists at the Bank for International Settlements (BIS).