SwapClear trades not so unique
SwapClear trades are largely unique, so trade netting not so easy: wp.me/p1H7fz-2L What this means is that rate swaps are customised in nearly all cases, making netting of trades with …
SGX publish IRS CCP notionals
I might not be the first to notice, but if you can navigate the SGX website, you'll find their monthly statistics update, which now includes OTC IRS broken out, here's the …
It looks like a swap, it flies like a swap, what can it be? It’s Eris
Today Eris received CFTC approval to be a Designated Contract Market for their new Interest Rate Swap futures. To go after the ISDA based OTC contract market, Eris has designed …
World’s best whisky
I couldn’t help but accidentally order a bottle of the 12 year old, the story below regards the 21. The immediate impression is of a rich but not peaty aroma, …
Dan Maguire becomes Head of SwapClear US
My mate Dan now heads the SwapClear team in the US, more or less a de facto position given his activities over there in the past fews months. Dan was …
Books for sale
A variety of topics here, no set prices, make me an offer. Nouriel Roubini, Crisis Economics: written post-Lehman Lewis Pinault, Consulting Demons: if you’re in consulting, you need to read …
Exotic OTC contracts- there’s an app for that!
A new business http://derivatrust.com/ has launched a business which on face value appears to be offering “apps” in the style of the iPhone AppStore or Android Marketplace. Looking deeper, and reading the …
Collateral transformation, silver bullet or smoke and mirrors
What risks does collateral transformation bring to buy-side institutions, in meeting the margin requirements of a CCP? As the OTC market heads towards clearing in 2012, a wide population of …
Eurex extend CCP into OTC IRS and Equities
On Monday 17th of October Eurex provided a briefing on their forthcoming extension of clearing into Interest Rate Swaps and Equity Options. Eurex have an existing offering for CDS which …
ECB caught in Dodd Frank net
Risk reports that the ECB wants exemption from pretty much all of Dodd Frank, in particular the obligations on clearing and reporting – they don’t feel they are a risk …