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February 17, 2014

Weekly Roundup | Clearing | 17 February 2014

Clearing Houses Criticise Push for More Transparency

Clearing houses have pushed back against plans by global securities regulators to force more transparency into the industry, arguing that their operations and market confidence could be damaged by publication of sensitive data. FT: Clearing Houses Criticise Push for More Transparency.

 

Newedge Debuts 'Indirect Clearing' Service

Newedge has debuted a clearing service in Europe that aims to solve one of the trickiest problems emerging from incoming clearing rules – providing access to mandated clearing for small institutions. FT: Newedge Debuts 'Indirect Clearing' Service.

 

Eris Exchange: UBS Execution and Clearing for Buy-Side Clients

CHICAGO, IL — (PRNewswire) Eris Exchange announced today the first execution of Eris Standard Swap Futures by UBS Securities LLC, a division of UBS AG, acting for a buy-side client. Securities Finance Monitor: Eris Exchange: UBS Execution and Clearing for Buy-Side Clients.

 

Development of LME Clear Proves a Test of Mettle

A change of ownership and an evolving regulatory landscape have thrown up big challenges for the London Metal Exchange in its quest to clear its own trades. Trevor Spanner, the chief executive of LME Clear, speaks to Mark Pengelly about the project. Risk: Development of LME Clear Proves a Test of Mettle.

 

LMEwire Launch Hits Trade-Reporting Deadline

LME Clear has successfully launched its new trade-reporting service, LMEwire, in time to meet the 12 February reporting deadline set out by the European Market Infrastructure Regulation (EMIR). LME: LMEwire Launch Hits Trade-Reporting Deadline.

 

What Fees Do CCPs Charge Clearing Members on Cash & Collateral Held? We Have the Answers for ICE

So what are CCPs charging to hold collateral? For ICE Clear U.S., the answer on cash is 6bp plus a cut to ICE and 5bp on US Treasury balances. Securities Finance Monitor: What Fees Do CCPs Charge Clearing Members on Cash & Collateral Held? We Have the Answers for ICE.

 

Competitive Drive Behind CCPs’ Transparency Criticisms

Central counterparty (CCP) complaints over the International Organization of Securities Commission’s (IOSCO) push for transparency may have an ulterior motive: competition, according PJ Di Giammarino, CEO of regulatory think tank JWG. The Trade News: Competitive Drive Behind CCPs’ Transparency Criticisms.

 


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