Securities and Exchange Commission and Commodity Futures Trading Commission chairs want to have oversight of margin requirements set by the central counterparty clearinghouses for standardized over-the-counter derivatives.
Regulators may ultimately look to have transparency into the over-the-counter derivatives market down to net exposures for each counterparty, according to Ananda Radhakrishnan, director of the Division of Intermediary Oversight at the Commodity Futures Trading Commission.
TMX Group, which owns the Toronto Stock Exchange and the Montréal Exchange, intends to expand its clearing services into over-the-counter equity derivatives and other asset classes.
Due to potential valuation issues, the London Stock Exchange has ruled out clearing credit default swaps, according to Raffaele Jerusalmi, director of derivatives in Milan.
The London Stock Exchange has ruled out clearing credit default swaps due to problems it foresees valuing them, according to Raffaele Jerusalmi, director of derivatives in Milan.
The U.S. Department of the Treasury, the Securities and Exchange Commission and the Commodity Futures Trading Commission will mandate central clearing for standardized over-the-counter credit default swaps as part of four broad objectives the group will implement to improve infrastructure support for derivatives.
A consultation from the International Organization of Securities Commissions suggests an interim regulatory structure be devised for the establishment of central counterparty clearing platforms for clearing credit-default swaps.
Global regulators are unlikely to stop at mandating central counterparty clearing platforms for credit derivatives in the quest to reduce risk, according to some industry experts.
The IntercontinentalExchange and the CME Group have already begun looking at platform enhancements and expansions into Europe for their central counterparty clearing platforms for credit default swaps.
The percentage of trade record errors attributable to the back office in derivatives transactions has decreased, according to the latest industry survey from the International Swaps and Derivatives Association.
Daiwa Securities America will automate its futures collateral management process using SunGard's Stream Credit Monitor.
TriOptima will expand its presence in Asia by opening an office in Tokyo.
Daiwa Securities America will automate its futures collateral management process using SunGard’s Stream Credit Monitor.
SunGard plans to expand its GMI platform to support each of the central counterparty clearing platforms launched for over-the-counter derivatives.