Fri, Dec 9, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

CME: Start preparing for swaps clearing under Dodd Frank Act now

Monday, June 03, 2013

amb
Jack Callahan
Benedicte Gravrand, Opalesque Geneva:

Reform efforts in the US and around the world, including the EU, Australia and Japan, have been driving markets toward central clearing following the 2008 financial crisis.

Reform in the US has four key goals: to reduce systemic risk, improve transparency and market efficiency, maintain market integrity, and ensure client suitability for the trading of OTC derivatives, according to a UBS report. In Europe, the European Commission identified four complementary goals to increase financial stability: product standardization, market transparency, and the use of CCPs (central counterparty clearing houses) and organized trading venues.

In the US, mandatory clearing of OTC derivatives began this year; it was supposed to begin in 2011. In Europe, OTC contracts will have to be centrally cleared starting next year; again, it was meant to start in 2012. While most major dealers are already direct clearing members of a central counterparty, the vast majority of clients will have to establish clearing relationships with clearing service providers; one which is the Chicago Mercantile Exchange (CME).

Deadline: June 10 According to Jack Callahan, Executive Director of OTC products and services at CME Group, the new global rules for OTC derivatives will have significan......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest