Counterparty credit risk
Firms seek optimisation gains as UMR and SA-CCR bite
A wider range of market participants is taking advantage of service providers such as OSTTRA’s optimisation cycles to drive margin and counterparty credit risk efficiencies across asset classes including FX, rates, equities, commodities and credit
Optimising swaps and forwards: mitigating risk and reducing all‑in cost
A forum of industry leaders discusses the rising cost of FX forwards and swaps under the standardised approach to counterparty credit risk, how vendors are adapting optimisation solutions to manage the impact of this new regime, and whether banks are…
Is stochastic cross-currency basis a better way to model IM?
Using Monte Carlo model extension for forward IM calculation avoids excessive outputs for MVA
Dealers advancing electronic FX swaps trading on CME
Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making
European banks can’t escape SA-CCR hit, warns FX exec
Although not yet directly affected, EU dealers may feel regulation’s impact, says Goldman’s Wilkins
Banks offer crypto clearing but, shhh, don’t tell
Top dealers clear crypto futures for select clients despite smorgasbord of risks
Dealers face tough test on FX costs
Banks may pass on SA-CCR capital costs to FX clients
SA-CCR brings little succour for FX dealers and clients
Spreads on swaps and forwards likely to widen as banks adjust to capital-intensive regime
No fair: buy side takes on pricing problem in FX forwards
Interest in TCA is growing as new data sources offer glimpse into murky swaps and forwards market
China netting law drives interest in CSAs
Steady growth in contracts with CSAs suggests confidence that clean netting is near
Optimisation firms prep for SA-CCR boom
FX expected to be big focus of industry’s new slimming drive – and vendors are jockeying for position
Capitolis signs data deal with CLS
FX optimisation service to use settlement utility’s data to help boost efficiency
US regulator casts doubt on key SA-CCR netting benefit
OCC rejects suggestion banks can net certain cleared client exposures; Fed stays silent
SA-CCR proves a bitter pill for US banks to swallow
Dealers concerned new regime will punish some business lines with rise in risk-weighted assets
SA-CCR switch clouded by confusion over netting sets
An effort by US regulators to incentivise the switch to SA-CCR may be having the opposite effect
The FX swaps client clearing comeback
With possible price savings and non-bank competition, chatter about the service is picking up again – but significant hurdles remain
FX swaps clearing redux
SA-CCR could unleash the potential of clearing, and may ignite some big changes
SA-CCR adoption may spur wider FX swaps clearing
With up to 90% lower exposures on offer, dealers say capital benefits could outweigh margin costs
Big banks reproach CCP risk panels as resentment surfaces
Emotions simmer as major banks insist committees listen harder to clearing members, in wake of green light for bitcoin futures
Capitolis onboards more than 20 firms to FX novation service
Platform live and novating FX options for market participants, with more instruments to follow
Execution costs still a riddle for FX participants
The sheer variety of choices hinders fair comparison