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February 6, 2013
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Daily coverage for the global derivatives industry

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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 
  • Japanese bourse eyes international partnership
    Japan Exchange Group is open to an international deal, CEO Atsushi Saito says. "Expansion into clearing is a great trend. JPX will look to capitalize and offer trading through clearing and settlement, and develop our service," Saito said. "We can collaborate or assist with our Asian friends on interest-rate-swaps clearing, although each government will look to establish one [clearinghouse] themselves at first." The company hopes to attract interest from CME Group, Deutsche Boerse, BM&FBovespa or Korea Exchange, he said. Bloomberg (2/5), Financial Times (tiered subscription model) (2/5) LinkedInFacebookTwitterEmail this Story
  • Interactive Data provides services to rate-swaps DCM
    TrueEX, a U.S.-designated contract market for interest-rate swaps, will get hosted services from Interactive Data by way of the 7ticks platform. Interactive Data will supply monitoring and support trueEX's network architecture and matching engine. The company also has connections to other futures exchanges, namely IntercontinentalExchange and CME Group, for post-trade solutions. The Trade News (U.K.) (2/5) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • Politicians want quantitative-impact study of Basel III
    U.S. politicians are taking up a cry for a quantitative-impact study before Basel Committee on Banking Supervision rules are implemented. The study, however, would take a significant amount of time, risking a substantial delay of Basel III. "We don't want to be the ones that give everyone else the excuse to slow down or abandon the project entirely," said Sheila Bair, former chairwoman of the Federal Deposit Insurance Corp. "That's why a U.S. QIS would be disappointing." Risk.net (subscription required) (2/5) LinkedInFacebookTwitterEmail this Story
  • Lawyer: Republican tax plan would sacrifice ETN benefit
    A tax-code change proposed by Rep. Dave Camp, R-Mich., would remove one of the major factors that drive investors into the $17 billion market for exchange-traded notes, says lawyer Daniel Crowley, formerly of the Investment Company Institute. Bloomberg (2/6) LinkedInFacebookTwitterEmail this Story
  • BaFin and Bundesbank differ on rate-setting reform
    Germany's financial regulator and central bank have taken opposite sides of the debate on how to reform benchmarks such as the London Interbank Offered Rate. BaFin says the system might need to be changed, while the Bundesbank thinks better reporting will fix the problem. Reuters (2/5) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
We cannot live only for ourselves. A thousand fibers connect us with our fellow men."
--Herman Melville,
American writer and poet


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