Clearing

New Singaporean Marketplace APEX Live with Core Solutions From Cinnober and Irisium

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Asia Pacific Exchange (APEX) has launched its new market, operating with Cinnober’s real-time clearing solution and the Irisium surveillance platform

On May 25th, Asia Pacific Exchange Pte Ltd (APEX), a new derivatives exchange and clearinghouse, based in Singapore, went live with core functions operating on technology from the Cinnober Group.

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The European Parliament Throws Down the Gauntlet in the Euro Clearing Debate

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Lynn Strongin Dodds gives a progress report on one of the most contentious issues of the Brexit negotiations.

Euro-clearing has always been a political football, with French authorities trying to wrest the business away long before Brexit became a reality. Tensions are invariably running high as the clock grows ever louder to the UK’s imminent departure, but predicting the future is always tricky. Recent moves by the European Parliament may set the tone, but nothing is yet set in stone.

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ESAs Consult on Amendments to Joint EMIR Standards

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The European Supervisory Authorities Authority (ESAs) recently launched two joint consultations to amend Regulatory Technical Standards (RTS) on the clearing obligation and risk mitigation techniques for OTC derivatives not cleared.

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MAS Requires OTC Derivatives to be Centrally Cleared to Mitigate Systemic Risk

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The Monetary Authority of Singapore (MAS) will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs)1, with effect from 1 October 2018. Central clearing will make the trading of OTC derivatives in Singapore safer as it mitigates counterparty credit risks inherent in these trades.
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OTC Clear Expands its Services to USD/HKD Cross Currency Swaps and Extends Clearable Tenors of HKD Interest Rate and Basis Swaps to 15 Years​

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OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX) that provides clearing and settlement services for over-the-counter (OTC) derivative transactions, commenced clearing of US dollar – Hong Kong dollar Cross Currency Swaps (USD-HKD CCS) and extended the clearable tenor of both HKD Interest Rates Swaps (IRS) and HKD Basis Swaps from 10 years to 15 years on 30 April 2018.

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LCH clears first non-deliverable interest rate swaps

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  • Clearing for Chinese Yuan, Korean Won and Indian Rupee-denominated non-deliverable interest rate swaps.
  • J.P. Morgan and Standard Chartered among first participants to clear the products.
  • SwapClear now offers clearing for derivatives across 21 currencies.
  • Move follows a record quarter for SwapClear’s volumes, with $292 trillion cleared in Q1 2018.
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The Case for CCP Supervisory Cooperation

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Significant progress has been made in moving standardized derivatives trades to central counterparties (CCPs), in line with commitments made by the Group of 20 (G-20). Approximately 77% of interest rate derivatives notional outstanding is now cleared, according to the Bank for International Settlements.

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The Case for CCP Supervisory Cooperation

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Significant progress has been made in moving standardized derivatives trades to central counterparties (CCPs), in line with commitments made by the Group of 20 (G-20). Approximately 77% of interest rate derivatives notional outstanding is now cleared, according to the Bank for International Settlements.

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Segregated Funds, Market Crashes & Under-Seg

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Today I want to look briefly at the reported solvency of FCM’s during the most recent market panic. Back on February 5th of this year, the US equities market suffered a volatile day and significant losses. The Dow Jones index had its worst ever one-day loss in terms of points (down 1,175), and other indices […]

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Intercontinental Exchange Announces Transition of Credit Default Swap Open Interest from CME Group to ICE Clear Credit; Launches CDX Clearing at ICE Clear Europe

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Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced the transition of index credit default swap (CDS) open interest from CME Group to ICE Clear Credit, ICE’s U.S.-based CDS clearing house. This has been the first transition of its kind and it follows CME Group’s announcement in September 2017 that it was exiting the CDS business and would work with customers to transition open positions to an alternate clearing house.

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