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Forward rate agreements grew by 132% to USD601 billion over the past three years, driving the growth in OTC interest rate derivatives during the period.
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Derivative users and industry groups in Europe have voiced their opposition for the so-called systemic internalizer regime to be adapted and applied to the trading of over-the-counter derivatives.
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A Commodity Futures Trading Commission plan to have derivatives clearing organizations and designated contract markets come back online the same day as a major disaster may be too rigid, according to R. Trabue Bland, v.p. of regulatory affairs and assistant general counsel for the IntercontinentalExchange.
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The streamlining of the novation process by the International Swaps and Derivatives Association will shorten trade processing time and reduce the risk of unconfirmed trades.
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New York Portfolio Clearing has appointed Laura Klimpel as chief compliance officer and counsel.
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BNY Mellon Clearing in New York is looking into clearing memberships with major clearinghouses to give clients access to over-the-counter interest rate swap and credit default swap clearing, Sanjay Kannambadi, ceo, told Derivatives Week.
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Banning flash orders in the options market could cause another flash crash, a Securities Industry and Financial Markets Association committee has warned.
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Limiting a clearinghouse member’s exposure to the CCP could limit that CCP’s ability to mitigate risk and manage a systemic failure in the event of a default, according to the Japan Securities Clearing Corporation.
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The move to central clearing could spark the long tail risk hedging market.
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The move to central clearing could spark the long tail risk hedging market.