FSA Allows CME to Clear Interest Rate Swaps in London

The FSA will allow the CME to clear interest rate swaps, the world’s largest asset class traded by notional value OTC, reports Financial Times. Financial Services Authority The clearance, given by the FSA, will create competition for LCH.Clearnet, a clearing house in the process of being bought by the...

OTC Derivatives to be Regulated in South Africa

According to Business Day, the South African authorities have made progress in developing and creating a system of regulation for over-the-counter (OTC) derivatives. In a report that promotes financial stability globally, obtained by Business Day, many of the details of the reforms are yet to be...

TAIFEX Partners with Eurex to Expand Taiwanese Derivatives Market

TAIFEX, a Taiwan futures exchange, has entered into a deal with Germany’s Eurex Exchange, offering Europe-based traders the ability to clear Taiwanese derivatives products. The partnership between Deutsche Börse-owned Eurex, one of the largest derivatives market, and TAIFEX through a letter of intent,...

Payments Risk Committee Advises CCP’s on Risk Management

The Payments Risk Committee, a group of banks overseen by The Federal Reserve Bank of New York, made a series of recommendations meant to create better risk management practices at central counterparties (CCPs). According to a press release from the Payments Risk Committee, the group believes that accurate...

OTC Derivatives Framework Released by Chinese Regulators

In a message from The Securities Association of China, (SAC), Chinese regulators released the first management method for the newly launched national OTC equity transfer system for non-listed small and medium-sized enterprises. China Daily reports that the China Securities Regulatory Commission...

Barnier Issues Letter to EU Lawmakers Concerning Swaps Rules

The European Union’s financial services chief, Michel Barnier, issued a letter asking EU Lawmakers to drop a threat that would block derivatives rules, stating the plan has the potential to harm the EU credibility. According to Barnier’s letter, obtained by Bloomberg News, delaying over-the counter...

High-Frequency Trading (HFT) and Central Clearing of OTC Derivatives

What will the of increasing global OTC derivatives clearing be on high-frequency trading (HFT)? As speculation mounts about the impact of centralized clearing on pensions and hedge funds, attention has naturally turned to high-frequency trading. Cleared Derivatives Geared to HFT? Even as the impact of OTC...

Basel III May Change the Way Banks Calculate Risk

The Basel Committee on Banking Supervision (Basel III) has discovered “material variation” in the methods banks have for calculating risk. As a result, regulators may begin to impose new standards of risk calculation across banks. “The preliminary work suggests we may not have the balance...

ESMA Provides Confirmation, Relief for Fears of Front-Margin for Swaps

The European Securities and Markets Authority (ESMA) has said that a new regulatory regime will not impose swaps margin requirements retroactively. The prospect of changing margin costs for enduring trades came to be know “front-margining,” and a substantial amount of worry had developed in...

The National Futures Association (NFA) Introduces New Board Members

The National Futures Association (NFA), the self-regulating body of the futures industry, has announced new board members resulting from “contested” elections. The list of members of the NFA Board of Directors is as follows:   IB Representative: Jeffrey D. Malec Chief Executive Officer...
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