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CFTC cross-border guidance a threat to ‘systemic stability’, say Asian regulators
Leading regulators from across Asia complain of the potentially negative impact of the US regulator’s latest proposals
Esma exemption provides corporate relief
Corporates relieved at Esma clearing exemption, but express concern about uncertainty over uncleared derivatives
Deutsche Bank rolls out FX swap orders on Autobahn
New swap order functionality went live for all users of Autobahn on September 19
Central banks take aim at dollar-funding shortage
Co-ordinated action from five central banks eases the pressure on dollar funding for European banks, but EUR/USD cross-currency basis swap market remains under stress
FX Invest: Implications for collateralisation under new CCP model
Saima Farooqi looks at the wave of upcoming regulations relating to central counterparty clearing, and what it means for collateral management
Deutsche merges OTC and listed derivatives clearing
Markets Clearing will combine the bank's existing clearing capabilities across FX, rates, credit, commodities and equities
Against the Treasury’s proposed exemption
Systemically significant foreign exchange markets need transparency and regulation, argue Dennis Kelleher and David Frenk
In favour of the Treasury’s proposed exemption
Darrell Duffie's opposition to the US Treasury's paper misses crucial points, argues Justyn Trenner
FX derivatives volume grew by 9% in H2 2010, says BIS
Total notional OTC volume across asset classes rose by 3%, having contracted by 4% in the first half of the year
Duffie paper sparks debate over credit risk in FX swaps and forwards
Market participants respond to calls from academic Darrell Duffie for more analysis before finalising exemption of FX swaps and forwards from clearing requirements
Basel III already raising costs for long-dated FX, argue corporates
Panellists at ACT annual conference express concerns about the knock-on effects of Basel III and OTC clearing rules
Industry hails US Treasury exemption for FX swaps and forwards
FX exemption clarity in the US puts pressure on Europe to take a similar position, argue senior industry officials
Treasury exemption decision leaves Europe divided
Representatives of the Commission, Parliament and Council voice different opinions about whether the US determination warrants a rethink on European rules
Splits emerge in CFTC and SEC swap product definition rules
Agencies largely aligned, but conflicts remain after 10-month negotiation
Spotlight on: Joe Norena and Jacqueline Liau, HSBC
Joe Norena, chief operating officer for FX and metals at HSBC, and Jacqueline Liau, global head of product and services for FX Prime, talk to Farah Khalique about the bank’s plans to offer clearing services for FX products
EU Council disputes Esma’s power to determine clearing eligibility
Legal precedent suggests European Commission might have to determine which contracts should be cleared under new derivatives rules, rather than Esma as originally planned
Afme global FX division calls for restraint on Sefs
Managing director James Kemp explains how Sef rules can be applied without putting the current liquidity and volumes of the FX market in danger
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
SDX expands exotics options
SuperDerivatives is capitalising on increased risk appetite for exotic options with the launch of new correlation products on its multi-asset pricing system, SDX, in the first quarter of 2011.
A call for closure
Indications of the multiplicity of challenges that central clearing will introduce to the forex markets came thick and fast at the FX Week Europe congress in London last Tuesday (November 16).
AFME preps for Dodd-Frank with trade repository services launch
The Association for Financial Markets in Europe's (AFME) global FX division will launch a process, on behalf of its members, to select a provider of trade repository services for the forex market, it said on November 15.
Tullett Prebon emerges as FX broker powerhouse
Tullett Prebon has eclipsed the competition in the best broker category, coming first in currency options, emerging markets and forwards FX.
Active FX traders switch on to FXall
LONDON - Active foreign exchange traders have made up the majority of the 130 new client additions trading on FXall since January this year, according to a senior official.