Derivatives

CFIUS to Rosneft: Drop Dead

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Bowing to the inevitable, Rosneft and Morgan Stanley scuppered their agreement to sell MOST’s energy trading operations to the Russian company. The official explanation was that the deal failed to get approvals from US regulators.

Go figure.

Glad that the Committee on Foreign Investment in the United States,which consists of Treasury, Justice, Homeland Security, Defence, State, Commerce, the US Trade Representative and the Office of Science and Technology Policy, saw off Igor and Co. Putting the FU in CFIUS.

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Is This Prosecution a Spoof of a Real Manipulation Case?

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Some More Specifics of the Dodd-Frank Act Swap Push-Out Rule

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This is a follow-up to my earlier post on the specifics of the Dodd-Frank Act (DFA) “push-out” rule. Basically I was trying to figure out what derivative transactions would be exempted from and snared by the rule, and based on a nice Reuters Practical Law article. I’m not a lawyer or legislative wonk, so take […]

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Some Specifics of the Dodd-Frank Act Swap Push-Out Rule

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There’s a lot of talk about what’s covered and what’s not in the Dodd-Frank Section 716 Push-Out rules. So just for the record, here’s an explanation from a 2011 piece from the Reuters “Practical Law” service. The first thing we have to be clear about is that the push-out rule applies only to “insured depository […]

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The Height of Absurdity: The Operation of the Government Hinges on Blanche Lincoln’s Brainchild

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There’s a whole lotta stupid in Frankendodd. A whole lot. The SEF Mandate is at the top of the list, but the “Swaps Pushout” isn’t far behind.

The Pushout was the brainchild of ex-Arkansas Senator Blanche Lincoln. (NB: I understand the risks of using “brain” in the same sentence as “Blanche Lincoln”.) Blanche, she of the historic 21 point annihilation in the 2010 midterms.

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Over the Counter (OTC) Derivative Markets – How Big and How Cleared?

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Following up on the previous post about the Financial Stability Board’s most recent Progress Report on Implementation of OTC Derivatives Market Reforms here we look at some of the more basic size-of-market data, including the amount of central clearing that is taking place.[1] After growing rapidly up to 2007, OTC derivative market growth, in terms […]

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IR Swap Prices, RCM19901, SwapPX and SDR

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SDRView Pro shows the latest IR Swap trade prices reported to US Swap Data Repositories with a 15-minute snap of prices from ICAP. However this requires a user to use a Web browser and login to the SDRView application. We have all

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Cross Currency Swap Trends

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We like to stay on top of market trends here at Clarus, and following-on from Amir’s blog yesterday on the sharp rise in uncleared, back-dated EUR IRS, I’ve been taking a look at my “alma-mater” – Cross Currency Swaps. As…

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