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January 14, 2013
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Daily coverage for the global derivatives industry

  Top Stories 
  • FX swaps shouldn't need initial margin, Japanese official says
    Takehiko Nakao, vice minister of finance for international affairs in Japan, says initial margin should not be required for foreign exchange swaps. "Forex swaps serve a vital role in the forex markets and are not very risky," he said. "Initial margin on cleared forex swaps might end up harming the forex market. It is, therefore, important to consider a broader perspective when applying financial regulations." (subscription required) (1/14) LinkedInFacebookTwitterEmail this Story
Margin Savings up to 90% for Cleared OTC IRS vs. Futures
90% is no small number - especially when it comes to margin savings. Market participants have been actively utilizing portfolio margining of Cleared OTC IRS and Eurodollar and Treasury futures, and total risk reductions now account for over $1 billion in initial margin savings – figures that remain unparalleled in the industry. Click here to learn more.
  Industry News and Trends 
  • CME and DTCC disagree over data destinations
    CME Group and Depository Trust & Clearing continue to disagree over who gets to share data required by regulators and recently made available to the public. Because CME is a clearinghouse in addition to a data repository, it says that it should be permitted to record its own proprietary swaps. DTCC says such an arrangement violates transparency rules. Reuters/International Financing Review (1/11) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • BoE targets capital rules for derivatives and bonds
    The Financial Policy Committee of the Bank of England is seeking authority to change the amount of capital that banks must hold against derivatives, bonds and real estate assets. "Such an approach might help to tackle threats to stability before they spread, particularly by leaning against exuberance in specific subsectors," according to the committee. Bloomberg Businessweek (1/14) LinkedInFacebookTwitterEmail this Story
  • Indian official opposes commodity-derivatives tax
    K.V. Thomas, India's food and consumer affairs minister, says a tax on commodity derivatives likely would hinder growth of the organized commodity market. Thomas' ministry wants deferment "if there is intent to introduce commodity transaction tax (CTT) on the commodity derivatives in the ensuing Finance Bill 2013," according to a letter reportedly written by him. Moneylife (India)/Press Trust of India (1/14) LinkedInFacebookTwitterEmail this Story
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--Georg Christoph Lichtenberg,
German scientist

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