Regulation
Regulators’ FRTB estimates based on faulty premise – industry study
US market risk capital requirements could more than double if banks abandon IMA
Bloating CCP default funds. New margin models. Are the two linked?
Dealers grumble that greater guaranty fund payments could undermine the ‘defaulter pays’ principle of clearing
Levelling the playing field for stablecoins
Regulatory asymmetries are a barrier to innovation in digital payments
360T awaits key trading exemption from Canadian regulator
Venue’s new UK MTF can’t include Canadian firms until approvals are granted
Banks rush to register as Korean onshore FX market opens up
Central bank eases licensing requirements as institutions look to capitalise on deliverable trades
BoE edges closer on FX settlement risk clarity
Central bank’s FX head says new survey will help to identify where risks may lie
Clearing members combing rule books after LME lawsuit win
Industry debates whether other CCPs and exchanges would cancel trades if faced with similar crisis
UK to permanently recognise US CCPs
Regulators also launching review on long-term status of UK pension fund clearing exemption
Don’t sweep bilateral settlement risk under the carpet
Non-CLS-settled FX swaps still pose major risks, says Baton Systems’ Alex Knight
CFTC plan to relax MMF margin restriction sparks debate
Industry welcomes proposal to lift ban on repo-using funds as eligible IM, but some warn MMFs bring risks
MAS finalises rules for stablecoins
Singaporean central bank to label qualified coins as “MAS-regulated stablecoins”
We need to talk about pre-hedging
Dealers claim it’s a vital tool for managing risk. Clients say it’s open to abuse. How should regulators treat the problem child of financial markets?
Iosco takes aim at pre-hedging with new probe
Global standard-setter intends to release results of review in third quarter of 2024
GFMA’s disruption template paused due to Isda definition clash
Close-out framework put on hold as Isda reviews 1998 FX derivatives rule book
Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement
Regulatory confusion clouds first annual IM recalculation
Firms dropping out of scope may need to continue posting non-cleared margin in some jurisdictions
US court greenlights most claims in Currenex class action
Civil lawsuit brought by XTX and two other financial firms advances to next stage before trial
ECB signals tougher stance on FX settlement risk
Trader penalties and client exposure limits suggested in new central bank guidance
BNPP, BofA and Nomura ditch last look add-on
Majority of top 25 LPs have now removed hold times as regulators step up scrutiny of controversial practice
Hedge funds’ use of barrier options comes under spotlight
Former traders say Glen Point CEO’s arrest highlights compliance gulf between funds and dealers
Indonesia readies close-out netting after passing P2SK Law
Bankruptcy law changes remove close-out netting obstacles
Reflecting on market demand: what CMC's expansion in Asia-Pacific means for the region
CMC's Peter Foster discusses the company's multi-asset offerings towards its institutional clients
Regulated UK crypto firms fear authorisation Groundhog Day
Industry wants grandfathering in new Treasury framework to avoid business continuity risk
Foreign banks set to boost onshore Korean won trading
Plans for longer trading hours and more open interbank FX market will stoke KRW hedging demand