Tag Archives: default fund

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 […]

Read more
Central Counter Party, Client Clearing, LCH.Clearnet, SwapClear
, , , , , , , , , ,

SwapClear Upgrade to Intraday Trade Registration Processing

February 6, 2012 by Bill Hodgson 0 Comments

SwapClear have implemented process changes to their intraday registration design, intended to streamline the registration process. Whilst this isn’t the same as “CME 2 second clearing” – the underlying structure of SwapClear with larger IM and lower Default Fund means more effort goes into an accurate risk measurement of new business earlier in the process. […]

Read more
Central Counter Party, LCH.Clearnet, SwapClear
, , , , ,

Follow-up on Javelin & CME real-time IRS clearing

February 1, 2012 by Bill Hodgson 1 Comment

As a follow-on to the press release by Javelin on 2 second clearing, my story here, I spoke with Javelin, and then CME who lie at the heart of the speed results. The original story was that Javelin were managing to clear trades within 2 seconds, and my many questions revolved around the type of trades, […]

Read more
Central Counter Party, CME, Featured, Javelin
, , , ,