Infrastructure
Buy side urged to avoid stampede to CCPs
Panel participants encourage buy-side firms to engage with CCPs early to avoid a last-minute rush
Deutsche merges OTC and listed derivatives clearing
Markets Clearing will combine the bank's existing clearing capabilities across FX, rates, credit, commodities and equities
Deutsche's Autobahn spin-off plan shelved
Dodd-Frank caused Deutsche to look at reinventing its Autobahn platform as a Sef – but dealers now see a future for their platforms as price aggregators
CCPs should become direct members of CLS, poll suggests
72% of poll respondents call for CCPs to join CLS to ensure settlement risk continues to be effectively managed when mandatory clearing is introduced
JSE to launch exotic can-do currency options
Move follows the successful launch of any-day expiry options in February
CME plans to clear all FX products, despite probable exemption
Swaps and forwards will be part of the exchange group's FX clearing initiative as banks will need to clear them if used to hedge an option
SmartTrade adds CME’s FX futures to liquidity pool
Clients will be able to trade FX futures offered by CME Group as if they were trading spot, using the vendor's conversion software
Barclays Capital signs up to CLS Aggregation
UK bank becomes the ninth CLS Aggregation participant since the platform launched in January 2010
Progress Software extends FX connectivity on Apama platform
Vendor has added connectivity to FX platforms of Nomura, JP Morgan, BNP Paribas and Commerzbank through its Progress Apama Capital Markets platform
TraderTools steps into the light with Citi Prime Finance
Vendor plans to pilot fully transparent aggregation tool to rival FX ECNs by the end of April
More consolidation of bank trading platforms to come, says Wall St Systems
JP Morgan's consolidation of platforms could set the trend for other banks to follow
CLS welcomes new Basel working group on FX settlement risk
Work between central banks and supervisors that was halted at the onset of the financial crisis is now set to continue
Panellists divided over whether TCA cuts off execution venues
Buy-side traders are divided over whether the use of transaction cost analysis (TCA) tools materially influences their choice of execution venue, according to panellists at the FIX Protocol Trading Conference in London on March 1.
Gold-i unveils improved Gold-i Gate Bridge
Vendor launches version 2.5 of flagship system with improved functionality
CLS considers membership category for CCPs
Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.
CLS committed to settlement risk mitigation under new regulations
68% of respondents to FX Week online poll believe CLS should be central clearer for FX products, but CLS insists it remains focused on mitigating settlement risk
ICICI clears and settles first gold contract on SMX
Singapore Mercantile Exchange (SMX) said the Singapore branch of India’s ICICI Bank began clearing and settling trade activities for SMX with its first trade cleared on December 30, 2010 for the SMX Singapore-deliverable gold futures contract.
HKEx moves to introduce margins for cash clearing members
HKEx plans to beef up its risk management following the bankruptcy of Lehman Brothers in September 2008 by introducing margin rules and seeking more funds from cash clearing members. The move would bring cash clearing more in line with existing…
CLS volumes and values up year on year in 2010
Average daily volumes settled over CLS in 2010 were up 33% on 2009, with 792,900 instructions settled. Average daily values were also up, by 22%, with $4.1 trillion settled.
CFTC proposal sparks scrap over CCP membership
CFTC proposes a $50 million cap on minimum capital requirements set by CCPs for clearing membership
Santander live as settlement member
Banco Santander went live as a settlement member of CLS Bank on November 15, bringing the total number of banking and financial institutions comprising CLS's members up to 61.
HKEx to launch NDF clearing facility by 2012-end
Hong Kong Exchange and Clearing (HKEx) plans to launch a central clearing facility for the local over-the-counter market, beginning with interest rate derivatives and non-deliverable forwards, by 2012-end.
LCH.Clearnet beats CME in FX clearing race
LCH.Clearnet has signed 13 banks up to a new foreign exchange options clearing venture - ForexClear - due to open for business in late 2011, according to a statement.