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December 4, 2012
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Daily coverage for the global derivatives industry

  Top Stories 
  • Dealers prepare to execute trades under overhauled CSA
    Two major dealers are prepared to conduct trades with each other under a standard credit-support annex, which will launch within weeks. The CSA is intended to curtail valuation disputes. "For all intents and purposes, we're done with the development phase," said Andrew Kayiira, assistant director for U.S. public policy at ISDA, which has led the revamp. "The business specifications and requirements for the standard CSA have been completed. What we have been working on over the past three months has been implementation." (subscription required) (12/3) LinkedInFacebookTwitterEmail this Story
  • Banks look again to derivatives market
    Derivatives-product companies might be due for a post-crisis comeback as several banks broach the possibility of opening up such units with lawyers and credit rating agencies. Roger Merritt, a Fitch Ratings managing director, says the firm is talking to several banks in Europe and the U.S. about reviving the sector. (subscription required) (12/3) LinkedInFacebookTwitterEmail this Story
  Industry News and Trends 
  • Central clearing isn't a cure-all, execs say
    Financial News asked market participants whether they think central clearing of over-the-counter derivatives will prevent another financial crisis. The consensus: There's no guarantee. One concern is that central clearing doesn't fully mitigate risk. In fact, it can be argued that it centralizes risk and thus could cause a crisis if it fails. Financial News Online (U.K.) (subscription required) (12/3) LinkedInFacebookTwitterEmail this Story
  • Asian asset managers face clearing-location uncertainty
    Differences among Asia-Pacific region regulators are leading to confusion about location among asset managers as they prepare for clearing of over-the-counter derivatives. At issue for buy-side participants is whether local or international clearinghouses will be mandated. (subscription required) (12/3) LinkedInFacebookTwitterEmail this Story
  • NYSE Liffe's Bclear to add fixed-income futures
    NYSE Euronext's derivatives arm, NYSE Liffe, says it will expand its Bclear service by adding three fixed-income products -- three-month sterling futures, three-month euro futures and long gilt futures. Philip Stafford writes that the move exemplifies the ways that exchanges are reacting to stricter regulation. Financial Times (tiered subscription model) (12/3), The Trade News (U.K.) (12/3) LinkedInFacebookTwitterEmail this Story
  • Other News
  Regulatory Roundup 
  • EU concedes January is out of the question for Basel rules
    Although it is hoped the delay will be short, the EU says January is no longer a realistic deadline for implementing Capital Requirements Directive IV, put forward by the Basel Committee on Banking Supervision. Leverage limits, bankers' bonuses and liquidity rules are among sticking points. Bloomberg (12/3) LinkedInFacebookTwitterEmail this Story
Don't look where you fell, but where you slipped."
--Liberian proverb

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