Clearing and settlement
End-users support central clearing
NEW YORK - The push for central clearing is increasingly being driven by end-users seeking operational efficiencies, rather than regulators, according to Jason Vitale, global head of dbClear FX at Deutsche Bank in New York.
Corporates should be forced onto central counterparties – BIS
Central counterparties are wrongly perceived as being more expensive than OTC transactions, says a leading economist.
SGX signs 14 banks for derivatives clearing
SINGAPORE - The Singapore Exchange (SGX-DC) has signed up 14 banks and three financial institutions for its Asian forex forwards and interest rates swaps clearing initiative, due for launch in the fourth quarter.
In Brief, May 3, 2010
What's going on in the FX technology sector.
Singapore Exchange moves into clearing
SINGAPORE - The Singapore Exchange (SGX-DC) became the latest to pitch clearing for foreign exchange products last week, with a proposal to clear financial derivatives, including Asian FX forwards contracts settled in US dollars.
CLS settlement: the challenges ahead
This week marks the one-year anniversary of the collapse of Lehman Brothers. FX Week and Rob Close, president and CEO of CLS Bank, discuss the past 12 months and the future of the industry utility
Counterparty risk is driving industry change
The question of counterparty risk is leading to some significant changes in the foreign exchange business, chiefly in introducing innovative ways to manage this risk.
The confusion over central clearing
Over the past month, the concept of central counterparty (CCP) clearing has taken centre stage, as concerns over counterparty risk consume the market in the aftermath of the collapse of Lehman Brothers in September.
SPECIAL FEATURE: CLS settlement: the next five years
This month marks the five-year anniversary of CLS. FX Week and Rob Close, president and CEO of CLS Bank, discuss the past five years and the future of the industry utility
CME, Reuters finalise FXMarketSpace
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters are making final preparations for the launch of their joint-venture platform, FXMarketSpace.
CLS data shows rising usage
Settlement system CLS has started publishing in detail weekly volume and value figures on a monthly basis. For the month of October, the system settled an average of 215,016 instructions a day with a value of $2.2 trillion.
CLS PROFILE: the benefits of membership
Newton Investment Management, a UK fund management subsidiary of Mellon, joined CLS as a third-party member in March 2004. Mohsin Siddiqi (right), supervisor, trade operations, explains what drove the decision to join the system and what benefits it has…