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April 9, 2014

Weekly Roundup | Clearing, Collateral & Risk Management | 9 April 2014

Clearing

Union Investment New User of EurexOTC Clear

Connected via Deutsche Bank as clearing broker and using the Individual Clearing Model. Eurex: Union Investment New User of EurexOTC Clear.

 

Wider Clearing Scope Will Create Risk, Warns Goldman Exec

If clearing mandates are expanded to include less-liquid products, the market will struggle to provide hedges in the event of a dealer default, conference is told. Risk: Wider Clearing Scope Will Create Risk, Warns Goldman Exec.

 

Benoît Cœuré: The Known Unknowns of Central Clearing

Speech by Mr Benoît Cœuré, Member of the Executive Board of the European Central Bank, at the meeting on global economy and financial system, hosted by the University of Chicago Booth School of Business Initiative on Global Markets, Coral Gables, 29 March 2014.  BIS: Benoît Cœuré: The Known Unknowns of Central Clearing.

 

 

Collateral Management

The Evolution of Collateral Management: Adapting to the Overhaul of the Industry

Brown Brother Harriman’s Stephen Bruel looks beyond the collateral craze to offer insight into how collateral management infrastructure needs to change so the buy side can thrive in the new OTC derivatives space. DerivSource: The Evolution of Collateral Management: Adapting to the Overhaul of the Industry.

 

Pension Funds Snub Swaps Over Margin Demand

Bank of England official says repo market could take the strain, but adds regulators would have to review rules if derivatives markets start to dry up. Risk: Pension Funds Snub Swaps Over Margin Demand.

 

 

Risk Management

Traders Say They Are Not “Too Big to Fail”, Clearing Houses May Be

(Reuters) – The world’s regulators should stop worrying whether trading houses are “too big to fail” and focus instead on ensuring that new rules are not forcing far too many deals through clearing houses, major commodity traders said on Tuesday. CTRM Center: Traders Say They Are Not “Too Big to Fail”, Clearing Houses May Be.

 

Compliance Officers: Taking the Regulatory Heat, Personally

Chief compliance officers at financial firms have always had it tough. Working long hours to address changing regulatory, investor and internal requirements, are an accepted part of everyday life. Yet, chief compliance officers and legal experts now say that the stress is hitting closer to home on a personal level. Securities watchdogs are drawing even more attention to individual shortcomings, particularly when it comes to anti-money laundering (AML) specialists. FinOps: Compliance Officers: Taking the Regulatory Heat, Personally.

 

Credit, Concentration and Wrong Way Risk

To safeguard the overall integrity of the Clearing House (Eurex) and to protect the mutualizing Clearing Fund, we conduct an internal credit assessment of all counterparties and perform continuous monitoring of credit, concentration and wrong-way risks. The OTC Space: Credit, Concentration and Wrong Way Risk.

 

Fed's Pykhtin: New Risk Measure Less Punitive than CEM

Basel Committee's new standardised approach to counterparty risk exposures will replace much-criticised CEM measure in a trio of rules. Risk: Fed's Pykhtin: New Risk Measure Less Punitive than CEM.

 

Progress Report on Implementation of the Basel Regulatory Framework

This updated Progress report on implementation of the Basel regulatory framework provides a high-level view of Basel Committee members' progress in adopting Basel II, Basel 2.5 and Basel III, as of end March 2014. BIS: Progress Report on Implementation of the Basel Regulatory Framework.

 

 


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