Clearing

Articles

24 Oct 2017 — Samantha Hodgson

The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 10 (in the attachments section below). Formatted in landscape to fit your computer or portable device screen, this edition contains inside information on what's happening in the industry. The PDF is attached below, and contains a great set of articles from previous and new authors.

Cleared IM and VM
18 Sep 2017 — Bill Hodgson

A new ISDA survey explain the flows of margin for cleared and uncleared OTC products

SwapClear Physical Segregation
16 Aug 2017

Back when CCPs had to achieve reauthorisation under EMIR, their segregation offerings were a subject of much discussion and jargon. One key offering that was floated was the idea that your assets are held in an account over which you have joint control with the CCP, rather than held in an account for the CCP solely.  The idea being that should the CCP default or be unable to service your requests to access your assets, you would have the possibility of moving assets out of your cover account.

28 Jun 2017 — Michael Wellenbeck

On November 28th, 2016, the European Commission (EC) has published a proposal for a framework for the recovery and resolution of central counterparties and amending Regulations (EU) No 1095/2010, (EU) No 648/2012, and (EU) 2015/2365l1. This regulation is based on the work at the international level of the Financial Stability Board (“FSB”), the Basel Committee, Committee on Payments and infrastructures (CPMI) and International Organization of Securities Commissions (IOSCO). FSB published in August 2016 a discussion note on “Essential Aspects of CCP Resolution Planning” and jointly with the Basel Committee, CPMI and IOSCO, a progress report on the work plan to enhance the resilience, recovery planning and resolvability of CCPs2.

30 May 2017 — Samantha Hodgson

Explore important political and regulatory topics that are shaping the cleared derivatives markets in Europe and beyond from Brexit to regulatory reform in the United States.

19 Apr 2017 — Amir Khwaja

The jump of $150bn at ForexClear is believed to be from the introduction of margining for FX products, a sudden enthusiam to clear them. Shanghai CCP are doing well with OTC rate swaps having added $306bn of notional. Both JSCC and LCH actively use compression methods to eliminate notional hence the drops above. All units in millions of USD, so 1000 below means 1 billion of USD.

29 Mar 2017 — James Parascandola

Following the 2008 Financial Crisis, multiple regional sets of regulations (EMIR, Dodd-Frank) mandated OTC markets migrate from bilateral to cleared processing.  As rules were written and regulations in the U.S. and Eurozone have come into effect over the past 7 years, the Basel Committee on Banking Supervision threw a levered wrench into mandatory client clearing for FCMs which has lead us to a crossroad in derivative market clearing infrastructure.

01 Mar 2017 — Frank Caccio

Join us for this free webinar where we will blow you away with the simplicity with which you can setup new procedures, delegate them to team members, and watch as they check off tasks and update the managers dashboard in real time.

23 Feb 2017 — Samantha Hodgson

The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 9 featuring four articles on Uncleared Margin Regulation plus 8 articles on a regulation, trading, clearing and post-trade. Get your free copy here, and send one to your colleagues.

22 Feb 2017 — Göran Bolin

Managing client protection in the new regulatory ecosystem can be achieved in a truly cost efficient manner by introducing a direct clearing model. The beauty of a well-designed direct clearing model is that all client driven capital costs for repo transactions are eliminated while clients receive “best-in-class-client-protection”. In other words, Direct Clearing has the potential to benefit the entire financial industry.

09 Jan 2017 — Michael Wellenbeck

Following the Brexit vote, in October 2016 Prime Minister May and the new Brexit secretary confirmed their intention to trigger Article 50 of the Treaty on European Union before the end of March 2017, starting the clock on a two-year process of leaving the European Union. This article comprehensively sets out the issues for CCPs around Europe.

03 Jan 2017 — Samantha Hodgson

Users have been voting with their clicks as to the most interesting articles, and we've developed a list to show you which 30 articles have been the most popular. This list is as-of January 1st, and shows our all time most viewed articles. We've also provided a list of our most popular articles in November & December 2016, and will continue to update these lists.