Clearing Houses
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CCPs Urged to Learn From COVID on Margin Models
By Wendy Lisney
January 7, 2021, Global Investor Group
Central counterparties (CCPs) must adopt margin requirements that limit the need for destabilising, procyclical changes during times of extreme market volatility, …
It’s ‘less clear’ how beneficial UMR will be – LCH
By Oliver Wade
December 14, 2020, Global Investor Group
Clearing house LCH has argued that it is becoming “less clear” whether the “huge operational lift” of the final phases of …
Traders grow anxious over market access ahead of Brexit deadline
By Philip Stafford and Jim Brunsden
November 19, 2020, Financial Times
Traders are ramping up warnings of disruption in financial markets from January without clear decisions on how the UK …
EU regulators seek solution to post-Brexit derivatives rule clash
By Jim Brunsden, Philip Stafford, and David Keohane
November 16, 2020, Financial Times
European regulators are racing to avoid London branches of EU banks having to route derivatives trades through …
Clearing houses face tougher crisis management scrutiny
By Huw Jones
November 16, 2020, Reuters
Global regulators have tightened their scrutiny of whether clearing houses hold enough capital and cash to avoid calling on taxpayers in a crisis, …
Brussels holds out on post-Brexit financial services access for UK
By Jim Brunsden and Philip Stafford
November 10, 2020, Financial Times
Brussels has warned that it will only grant the City of London market-access rights that are “in the EU’s …
Post-COVID clearing debate must use data – CCP12
By Wendy Lisney
November 6, 2020, Global Investor Group
The debate around whether clearing houses contributed to the volatility that followed the emergence of the COVID-19 pandemic in April must …
CFTC’s swap stay plan for clearing houses sparks alarm
By Sharon Thiruchelvam
October 29, 2020, Risk
A second attempt by US regulators to draft bankruptcy rules for central counterparties (CCPs) looks set to create even more problems than the …
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Ex-Isda risk chief: ditch gross notional thresholds for clearing
By Alexander Campbell
October 6, 2020, Risk
The decade-old swaps clearing mandate is not fit for purpose in an era when clearing is concentrated in the hands of a few …
Fed will calibrate NSFR to avoid hurting repo
By Philip Alexander
September 25, 2020, Risk
The US Federal Reserve will seek to calibrate a key Basel liquidity ratio to avoid putting pressure on US Treasury cash and repo …
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