Derivatives
Banks gain no relief from CFTC's variation margin delay
No-action letter will benefit only a dozen or so swaps brokerages and energy firms
FX swap margin treatment uncertain ahead of VM deadline
With one month to go, market participants are still unsure how to treat foreign exchange derivatives
Eurex tees up OTC forex clearing with CLS
Net settlement at CLS could slash liquidity risks for CCPs
Compression start-up LMRKTS secures investment
Founded in 2012, the fintech firm recently reached the trillion-dollar mark of gross notional reduction
Banks seek to standardise cross-currency settlement dates
Talks under way to exchange principal amounts on IMM dates to allow for greater netting
FX weighs on banks' trading revenues in Q3 2016
OCC report finds a fall in FX and interest rates lowered banks' trading revenues, but they still performed better than in 2015
China M&A boom presents unique hedging headaches
Crackdown on ‘fake’ deals boosts risk in contingent hedges
CME to launch six monthly contracts for FX futures
The Chicago-based marketplace will offer contracts for AUD, GBP, CAD, EUR, JPY and EUR/GBP from February 27
Ringgit NDF market collapses after central bank curbs
"Implicit threat" to banks active onshore if they continue trading non-deliverable forwards
TriReduce expands compression to emerging markets
Mounting cost pressures are increasing appetite for the service
LCH targets non-cleared market with radical new platform
Bilateral trades would be valued and margined using LCH swap curves
Asset managers lead the charge for voluntary clearing
Voluntary clearing volumes jump 80% as non-cleared margin rules take effect
EU non-cleared margin regime set to take effect in January 2017
EC expected to publish its final non-cleared margin rules on October 4
Banks warn prime brokerage clients of ‘material’ MVA costs
Some buy-siders are reassessing relationships as a result
Buy-side FX trading curbed as margin rules take hold
Prime brokers will cut off access to dealers if they fail to agree revised CSAs
GFMA requests uncleared margin delay in the US
Bifurcation of liquidity and major impact on FXPB cited for call
Tullett partners GMEX for FX options solution
Plans to launch a hybrid voice and electronic-trading platform
EU non-cleared margin rules tipped for February
The regime is likely to begin earlier than mid-2017, say regulatory sources
TriOptima and CME complete first ever LatAm compression cycle
Eliminating over 35% of cleared notional outstanding, equalling around $664 billion
Shanghai will be first CCP to clear FX options
The new service debuts in August, but liquidity risk has stalled other central counterparties
Best e-FX Software Provider: Fenics
Flexibility and a focus on Asia allows rapid expansion of client footprint
Delay US non-cleared margin rules, industry tells Congress
“This puts the US banks at a huge disadvantage relative to the European banks,” says CME’s Duffy
Corporate treasuries are starting to feel capital cost pain
After years of stable IRD usage, corporate hedging is getting more expensive and even clearing may not help