Clearing and settlement
CME to expand paired delivery as banks rethink third-party CLS
As banks scale back provision of CLS settlement to exchanges and CCPs
Fed official reiterates FX options-clearing guidelines
Lawrence Sweet highlights industry discussions around FX options clearing as a key component of a private-sector solution
CCIL-cleared forex forwards volumes double after mandate
European banks begin clearing in India, despite lack of an EU equivalency ruling
Paired delivery floated as options-clearing solution
A paired-delivery model proposed by CME has not been looked upon favourably by the US regulator, with further industry talks expected in July
Clearing costs creep up for clients
Some futures commission merchants are raising fees for clearing and collateral transformation services, buy-siders say
Eurex hopes to steal march on rival CME with FX launch
After delays, Eurex may launch FX futures and options by summer
HKEx soft launches clearing for interdealer NDFs
Hong Kong Exchanges and Clearing becomes the latest entity to launch clearing services for FX non-deliverable forwards
CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds
Results of an industry study reveal the scale of the liquidity burden that would fall on CCPs clearing physically delivered FX options – but a net settlement mechanism could reduce the number by 73%
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global FX division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered FX products
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of FX options
Nasdaq OMX awaits regulatory approval for FX clearing
The exchange's Nordic central counterparty has connected to MarkitServ and is awaiting the green light from regulators to clear G-10 and EM non-deliverable forwards and options
Inconsistency on FX among Asia CCPs worries banks
Indian authorities appear likely to mandate clearing of FX forwards while China is looking at clearing spot, leading to concerns over the potential for cross-border inconsistency on FX clearing
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
Traiana delivers first NDF trade to LCH's ForexClear
Interbank trade in USD/KRW between HSBC and an undisclosed counterparty is the first Traiana-processed trade to be cleared through ForexClear
Traiana and MarkitServ in turf war over pre-trade screening
Competition between the two vendors increases as they both seek to gain market support for their respective credit screening and clearing certainty products
FX could move to financial settlement under clearing pressure – GFXD’s Lam
Addressing the challenges of clearing deliverable FX products, Mandy Lam of the global FX division suggests more products could become financially settled in the future
‘Sef-lite’ environment remains confusing for platforms
Market participants still unclear on the implications of the requirement for multibank platforms trading non-cleared swaps to register as swap execution facilities
FX clearing driven by capital and collateral costs rather than mandate
As mandatory NDF clearing has been delayed, the likely increase in capital and collateral requirements for FX trades is forcing some to consider clearing ahead of the mandate, say webinar participants
Traiana pitches for LCH’s FX clearing flow
Vendor adds ForexClear to Harmony CCP Connect, more than two years after it first launched the clearing network with CME Group as the first clearer
Traiana announces first futures commission merchant live on CreditLink
Traiana completes production testing with futures commission merchant on pre-trade hub that aims to provide clearing certainty
Japan's Mizuho joins CLS Aggregation Services
CLS and Traiana-backed aggregation engine extends global reach with addition of Japanese bank
Client clearing not a priority for buy side
Clearing houses LCH.Clearnet and CME are extending their interbank FX clearing services to clients, but firms are showing little interest in clearing before they have to
Ice shelves plans to launch FX clearing
Ice pulls out of the OTC FX clearing race, citing regulatory delays in finalising rules for mandatory clearing of OTC FX products