Articles by Joel Clark
FX options clearing will be challenging, Afme panellists warn
Conference speakers discuss the investment needed to meet requirements for central clearing of FX options.
Spotlight on: David Rutter, Icap
Icap's head of electronic broking talks to FX Week about the evolution of the EBS spot platform, and plans for 2011.
Thomson Reuters: further dollar weakness ahead
Thomson Reuters – IFR topped this week’s one-month currency forecast rankings with expectations the US dollar would weaken in the first weeks of 2011.
Changing role of the FX salesperson sparks debate at Afme conference
The sell-side foreign exchange salesperson has a changing role to play in the industry as a result of an increase in high-frequency trading and the advent of new regulations, according to panellists at the European Market Liquidity conference in London…
Icap to upgrade EBS block-trading platform
Interdealer broker Icap will upgrade Continuous Match, its newly launched FX block-trading platform, in the second quarter, the broker has told FX Week.
Spotlight on: Jeremy Hill, Royal Bank of Scotland
FX Week speaks to Jeremy Hill, head of FX and money market operations at RBS in London
No market left untouched by regulatory clampdown
Few participants in the FX market seem to dispute the evolution of new regulations will be one of the biggest themes of 2011, but attention has tended to focus predominantly on Washington, DC and Brussels over the past year.
Capital rules for CCP exposures could make clearing costs punitive, dealers conclude
Clearing of over-the-counter derivatives could become punitively expensive if a proposal by the Basel Committee on Banking Supervision to increase capital held against exposures to central counterparties (CCPs) is not watered down, according to dealers.
Basel Committee tweaks counterparty risk rules
Basel Committee changes CVA methodology and releases consultation paper on CCP default fund charges
CCP turf war simmers as OTC regulations head to the European Parliament
LCH.Clearnet could be prevented from clearing euro swaps under central bank liquidity proposals being pushed by some European regulators
Extra capital needed for institutions deemed too big to fail, FSB warns
FSB sets out broad direction for special treatment, but admits the possible need for national discretion.
Future of OTC operational commitments under review
OTC derivatives legislation prompts rethink of industry letters to the New York Fed
EC finalises OTC rules, leaves key technical items to Esma
Corporate hedgers claim a victory, but details on clearing eligibility and thresholds to be tackled by new authority
MEPs win on powers for new European supervisory bodies
Pan-European authorities will have the power to impose emergency measures and intervene with financial institutions, after parliamentarians gained ground in a compromise agreement
Regulators tout new impact studies as proof of Basel III’s viability
Basel Committee and FSB studies play down the economic impact of Basel III - proof, regulators say, that the reforms are fit for purpose.
Lufthansa wary of OTC regulations
Corporates across the globe have lobbied to ensure end-users are not subjected to new clearing requirements for derivatives. For Lufthansa’s treasury department in Frankfurt, ensuring it is able to continue to hedge its foreign exchange and interest rate…
Corporates should be forced onto central counterparties – BIS
Central counterparties are wrongly perceived as being more expensive than OTC transactions, says a leading economist.
EC derivatives consultation stops short of detail on corporate exemptions
BRUSSELS - A consultation paper on derivatives markets infrastructure published on June 14 by the European Commission gives extensive detail on requirements for central counterparties (CCPs) that clear over-the-counter derivatives, but has stopped short…
Risk Europe: Euro volatility and regulatory uncertainty biggest concerns, say CROs
Buy-side chief risk officers voice their concerns about the effects of regulatory inconsistency on volatility.
Industry disappointed by lack of clout in CCP standards
Dealers complain a long-awaited draft of standards for derivatives clearing platforms fails to address key issues.
EU derivatives experts suggest threshold system for corporates
Legislators at the European Commission moved a step closer to determining whether non-financial users of over-the-counter derivatives should be forced to clear trades through central counterparties (CCPs) – a possibility corporates have vehemently…
European Commission undecided on FX treatment
The EU has not made up its mind about exempting foreign exchange swaps and forwards in its forthcoming legislation.
Europe excluded from CCP talks
The exclusion of European Union institutions from a technical working group set up to review risk management standards for central counterparties (CCPs) could make it difficult for the EU to reflect those standards in its forthcoming legislation on over…
