International Organisation of Securities Commissions (Iosco)
Iosco delays pre-hedging consultation to November
Review into controversial practice splits industry
Asifma: Asian focus on smaller counterparties for IM rules
Initial margin regime, conduct principles and China's lifting of FX restrictions are focus of Asian trade body, says Ball
Buy side continues with IM prep despite delays
Firms looking at custodian types, docs and trading strategies to optimise margin
Regulators plan to delay IM ‘big bang’ – market sources
Most see final phase of initial margin rules coming a year later, in September 2021
Inertia warning if uncleared margin rules delayed
Final phase of rules set to sweep hundreds of buy-side firms into scope in September 2020
ING launches EM-USD indices on Bloomberg
The indices are tradeable benchmarks covering 12 emerging market currencies
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
FX Week Forum: The challenges of clearing options
In the first in a series of video features addressing key themes in the global FX industry, editorial director Nick Sawyer talks to FX Week editor Joel Clark about the complex issues that have delayed central clearing of FX options
FX swaps and forwards off initial margin hook
Working Group on Margining Requirements has confirmed the exemption of FX swaps and forwards from initial margin, as well as a more restricted exemption for cross-currency swaps
WGMR exemption for FX swaps and forwards expected imminently
Final rules on margin requirements for non-centrally cleared derivatives are expected within weeks, including a long-awaited exemption for FX swaps and forwards
Industry reiterates need for FX exemption in uncleared margin rules
Responses to a second consultation on the margining of uncleared derivatives are strongly in favour of an FX carve-out
Industry disappointed by Basel persistence on margin
Lobbyists express concern that regulators appear intent on requiring variation margin to be posted against FX swaps and forwards, despite the costs involved
Basel Committee and Iosco reopen FX exemption debate
A second consultative document from the Working Group on Margining Requirements gives the industry until March 15 to make its case again for an exemption from mandatory margin
‘Near-final’ margin rules to be issued within days, says Iosco chief
Secretary general of Iosco confirms that further work is needed to assess the economic impact of margin requirements for uncleared derivatives
Regulators divided over collateral exemption for FX
Delays to the WGMR’s final standards on margin are due in part to disagreements over the treatment of FX, while the Financial Stability Board has called for variation margin to be tackled by a separate standard-setting body
Global margin standards face further delays
Proposals to collateralise non-centrally cleared derivatives could now be subject to further consultation and impact assessment, having missed the original end-of-2012 deadline
FX Week Asia: Sefs and OTFs may be unworkable for NDF market
Speakers at Asia conference warn of the unintended consequences mandatory platform trading could have for non-deliverable forwards
Central banks working on liquidity support for CCPs, says BoE’s Tucker
International regulators and central banks trying to avoid "nightmare" of fragmented clearing system
FX market a challenge for CCPs, says New York Fed official
Central counterparties might struggle to implement clearing solutions for the FX market, says Jeanmarie Davis
Regulators leave door open for FX exemption from margin rules
A senior group of regulators has recognised the possible case for an exemption from margin rules for non-cleared FX swaps and forwards - but possibly not those of longer maturities
Taiwan’s trade repository setting up reporting agreement with DTCC
Taiwan's new trade repository for over-the-counter derivatives is looking to ink a reporting agreement with DTCC