DTCC, CME Need Regulators to Allow Cross-Margining Expansion Post-trade infrastructure system and services provider DTCC and derivatives exchanges company CME Group report that they would like to improve their cross-margining arrangement so that clearing members of CME and the Government Securities Division of DTCC’s Fixed Income Clearing Corp. (FICC) can trade and clear U.S. Treasury… Read More >>
UBS to Acquire Credit Suisse via Rescue Plan
In a stunning move, UBS announced on Sunday, March 19, that it will acquire for more than $3 billion the ailing Credit Suisse Group, making it part of UBS. Bank and Swiss authorities further outlined a rescue plan that will combine the former rivals into “a business with more than USD 5 trillion in total… Read More >>
Treasury Working Group to Explore a Digital Dollar
A working group consisting of key U.S. financial services authorities will be gathering over the coming months to investigate “an initial set of findings and recommendations” toward a central bank digital currency (CBDC) or “digital dollar” for the U.S., says Nellie Liang, under secretary for domestic finance for the Treasury Department. The CBDC Working Group… Read More >>
DTCC Launches Repo Markets Service & Other News
DTCC Treasury Kinetics Takes On Repo Market Transparency Post-trade infrastructure and systems provider DTCC is launching a service for accessing U.S. treasury transaction data, called DTCC Treasury Kinetics, which is intended to increase transparency into the repurchase agreement (repo) market, officials say. The DTCC Treasury Kinetics was crafted to deliver “comprehensive views of the repo markets… Read More >>
DTCC Fights Fragmented Clearing for Treasuries
Fragmented clearing for the U.S. Treasury market is on the minds of those at the DTCC, the industry’s major post-trade services and infrastructure provider, and they have released a white paper that they hope will spark a discussion about this contentious issue. There is even a suggestion that there might be a need for a… Read More >>
Firms May Need to Revamp AML Policies: Report
U.S. banks may need to update their anti-money-laundering (AML) policies as a result of key provisions of the National Defense Authorization Act of 2021 (NDAA), which primarily covers appropriations for the U.S. Department of Defense programs, activities, and military personnel. However, the NDAA also covers many “matters relating to foreign nations,” according to the overview… Read More >>
Report: Electronic Trading for Fixed Income Poses Settlement, Clearing Risks
A new study has found that while electronic and algorithmic trading in fixed income markets are delivering many benefits, they also may create new settlement and clearing risks, and put a strain on liquidity conditions. These findings are from a study group established a year ago by the Markets Committee of the Bank for International… Read More >>
