TriOptima, a provider of post-trade services for over-the-counter (OTC) derivatives, reports that market participants have eliminated $500 trillion in notional principal outstanding since 2003, when it introduced triReduce, its multilateral compression service. That amount in eliminated notional principal outstanding includes “cleared and uncleared trades across a broad spectrum of products including cleared interest rate swaps… Read More >>
Despite SIFMA, T+2 in the U.S. Faces Obstacles
Citing systemic risk mitigation, securities industry trade group SIFMA is throwing its support behind a move to shorten the settlement cycle for U.S equities, corporate bonds and municipal bonds. But there will be stones in the road to tighter settlement times. Currently, the U.S. settles transactions from trade date plus three days (T+3); SIFMA and… Read More >>
Top FCMs Help Buy Side with Central Clearing Deadline
Commodity pools, private funds, banks and securities firms began the second phase of required clearing yesterday for Category 2 credit default and interest rate swaps and top U.S. clearing brokers serving as futures commission merchants are taking steps to help buy-side firms meet their requirements mandated by the CFTC.The CFTC has waived the clearing requirement… Read More >>
A Thousand Points of Light on the OTC Front
To paraphrase a former president, there are “a thousand points of light” when it comes to activity on the over-the-counter (OTC) derivatives execution, clearing and valuation fronts. Variety abounds as State Street touts a platform that will compete against sell-side offerings and major sell-side players such as BNP Paribas gear up to ready offerings for… Read More >>
