The OTC Space | Tag Archive

ISDA AGM: Asian Clearing Houses to dominate | Risk.Net

April 23, 2013 by Mihir Vaidya 0 Comments

An interesting article in Risk.Net on the future of Clearing in Asia. The article covers the results of a survey by Celent with findings that close to 50% of all OTC participants in APAC are expected to clear through local clearing houses with around 38% opting for Global CCPs, creating a potential liquidity fragmentation and […]

Clearing, ISDA, News, Risk

APAC, Asia, ccp, Clearing

CCP Status Chart Updated

February 11, 2013 by Bill Hodgson 1 Comment

Notionals updated for the CCPs LCH CDS notional now open interest rather than historic notional to date ASX added as a forthcoming CCP Target date for CME IRS now April 2013 Links to SDRs real-time reporting See the details here: Latest CCP & SDR Status Charts as of Feb 2013 « The OTC Space.

News

ccp, open interest, status charts

CCP status charts updated, plus new annual CCP progress chart

January 28, 2013 by Bill Hodgson 0 Comments

The chart for CCP notionals here: http://theotcspace.com/2013/01/08/latest-ccp-sdr-status-charts-as-of-nov-29th/ has been updated to current data, plus a new chart showing the change in notionals for selected CCPs from Dec 11 to Jan 12.

Central Counter Party, Research

ccp, ccps, status charts

Nov 13th: Eurex IRS goes live

October 30, 2012 by Bill Hodgson 0 Comments

Long PDF (582 pages) here which is mainly a black-line version of their rules and regs. IRS, FRAs, OIS, Basis Swaps. Eurex will be aiming to capture European business with their market leading individual segregated account solution and aiming at the many buy-side firms who will need a way into clearing as the EMIR / […]

Central Counter Party, Eurex

ccp, clearing houses, derivatives, irs, otc derivatives, rate swaps

Polish OTC Clearing Planned for Nov 2012

October 16, 2012 by Bill Hodgson 3 Comments

KDPW CCP plans to launch clearing of OTC products on the 19th November 2012, having worked with MarkitSERV and SWIFT for trade acceptance. KDPW have an impressive list of launch products: Forward Rate Agreements Interest Rate Swaps Overnight Index Swaps Basis Swaps REPO With more to come in Jan 2014 including: FX Swaps FX Options […]

Central Counter Party, KDPW

ccp, clearing houses, derivatives, EMIR, otc derivatives, rate swaps

Russian CCP for OTC products is coming / Русская КПК для OTC продуктов идет

June 5, 2012 by Bill Hodgson 0 Comments

I came across this PDF (on the right of this page) showing details of the creation of a CCP in Russia. The early chart on the domestic product mix shows IRS as a small proportion of their OTC market, but even so the plans will include IRS and also move into the FX market. The plan […]

ccp, clearing houses, derivatives, otc derivatives, rate swaps, repositories

An insightful A-Z on the OTC Clearing Revolution

June 1, 2012 by Bill Hodgson 0 Comments

I spoke at TradeTech this week and told a story of Alice (a Project Manager) and Bob (Head of Collateral Management) and how they prepared for the coming regulatory changes. I didn’t take the title literally, although as you’ll see I used some artistic license. The key message from the presentation was to engage with […]

ccp, clearing member, collateral management, derivatives, otc derivatives

Analysis of the new SwapClear – the membership gates are wide open

April 27, 2012 by Bill Hodgson 4 Comments

The membership framework at SwapClear has been in place in the early 2000s, linking the entry criteria to the default management procedure tightly. The announcement yesterday of a heavily revised framework opens the door to many more direct members, provided they can live with the new approach to default. Below I’ve done a rough comparison […]

ccp, clearing houses, clearing member, cme, credit exposure, default fund, eligible collateral, lch clearnet, otc products, rate swaps, swap dealer

Segregation models and Eurex

February 7, 2012 by Bill Hodgson 3 Comments

In Risk Magazine an article (here – subscription required) covers the launch of an IRS clearing service in late March by Eurex. The main thrust of the article is a debate about segregation models. The Eurex goal is to provide the ‘full segregation model’ (see below), as the ultimate model of providing clients with protection. […]