The Fixed Income Clearing Corp. (FICC), a DTCC subsidiary, wants to provide centralized clearing for more participants in the estimated $1.6 trillion institutional tri-party repo market and will be asking the SEC and the Federal Reserve for the permission to do so. The FICC oversees the confirmation and settlement of fixed-income securities for U.S. markets…. Read More >>
Uncleared Swaps Hit With Steep Margin Increases
U.S. regulators unveiled rules for derivatives on Wednesday that could make margin requirements for uncleared swaps 40 to 45 percent higher than cleared transactions, and could lead to a host of operational and legal difficulties for firms trading in them. The proposed rules establish the minimum amount of collateral that financial firms would have to… Read More >>
Brazilian Exchange Dives into Post-Trade Overhaul
BM&FBOVESPA, the merged Brazilian exchange operator, is delivering the first phase of a major post-trade processing overhaul via the launch of a clearinghouse for derivatives, intended to streamline and ease the collateral burden for its customers. An operator for securities and derivatives markets, BM&FBOVESPA provides registration, clearing and settlement services. It also acts as a… Read More >>
