Exchanges
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
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
Eurex preps launch of FX options and futures
German derivatives exchange will move into the FX market in October as it aims to compete for volume in listed futures and options
Sef regime begins, but platforms concerned over 'permitted' rule
Multi-dealer platforms are worried that, although they have to register as Sefs now, clients might be deterred from using them until they have to
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
Moscow Exchange to add more ruble products by year-end
The addition of new FX swaps and futures is expected to push further growth on the Moscow Exchange, officials say
‘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
Questions remain over finer details of Sef rules
The countdown to compliance with the Sef rules has begun following their entry in the Federal Register, but some platforms still have questions over the proposed model for a Sef
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
Nasdaq OMX to launch FX clearing in November
Stockholm-based clearing house becomes the latest to announce its intention to enter the FX space
MarkitServ upgrades CCP interfaces to enable FX reporting
Middleware provider has revamped the FX clearing interface with LCH.Clearnet and CME Group, to meet CFTC rules requiring CCPs to report
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
Complexity and costs of clearing continue to cause concern
Mandatory clearing of OTC derivatives could lead buy-side firms to leave a greater portion of their risks unhedged, warn speakers at a buy-side conference in London
MAS warns on fragmented clearing and reporting
Asian financial markets have made progress in setting up CCPs and trade repositories, but greater harmonisation is needed across borders, Singaporean regulator warns
Let swap platforms trade futures – Icap’s Spencer
Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies
Cometh the hour, cometh the Sef
Imminent rules are expected from the CFTC on the criteria required of electronic platforms seeking to become swap execution facilities under the Dodd-Frank Act
Spotlight on: Max Smith, Newedge
In a world where market participants are seeking to reduce risk in trading and ensure efficient clearing, Newedge's global head of FX, Max Smith, believes the firm is uniquely positioned