News

Banks to Cash In as U.S. Derivatives Reforms Go Live

By Douwe Miedema
Published March 7, 2013 Reuters

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Citigroup Says Dodd-Frank Drives Off Overseas Clients

By Michael J. Moore
Published March 1, 2013 Bloomberg

Citigroup’s Pandit Shows Love for Dodd-Frank

By Ben Protess
Published March 8 2012 NYT/Dealbook

EMCF to Push Into OTC Clearing

By Philip Stafford
Published August 26 2011 FT

European Multilateral Clearing Facility, the Dutch clearing house, is to expand into the clearing of products traded off-exchange amid increasing competition in its core business of clearing cash equities.

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Market Turmoil Shows Risk Of Dealer, Sovereign Credit Default Swaps Clearing

By Katy Burne and Jacob Bunge
Published August 10 2011 Dow Jones

The market impact of Standard & Poor's decision to strip the U.S. of its triple-A credit rating--including roiled bank stocks and rising costs for default insurance on other highly rated sovereigns--helps illustrate why credit derivatives tied to governments and major derivatives dealers are not yet being processed by central clearinghouses.

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Europe's Banks Take First Step On Clearing Path

By Luke Jeffs
Published August 10 2011 Reuters

While international exchange mergers have captured headlines this year, Europe's top investment banks have without much fanfare taken their first big step to make the murky world of clearing more competitive.

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Factbox: U.S. Regulators Crack Down on Banks, Markets

By Karey Wutkowski, Dave Clarke, Christopher Doering, Sarah N. Lynch, and Kevin Drawbaugh
Published July 18 2011 Reuters

U.S. regulators are straining to keep pace as they write more than 200 rules to rein in risk-taking throughout the financial system.

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Regulators Weigh Changes To Bank Ownership Caps In Swaps Venues

By Jacob Bunge and Katy Burne
Published July 18 2011 WSJ

Regulators are reconsidering proposals that would limit the amount of voting power dealer banks have in derivatives clearinghouses and swaps trading platforms, worried that draft rules went too far, according to people involved in the discussions.

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Derivatives Rules to Help Swaps Market Grow $40.7 Trillion, Citigroup Says

By Matthew Leising
Published July 13 2011 Bloomberg

The market for interest-rate and credit-default swaps will grow more than 10 percent to $435 trillion by 2013 as oversight of over-the-counter derivatives improves price transparency and cuts trading risk, according to Citigroup Inc.

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EU’s Barnier Says Post-Crisis Convergence Can Prevent Regulatory Arbitrage

By Silla Brush and Cheyenne Hopkins
Published June 03 2011 Bloomberg

U.S. and European regulators must work toward convergence on financial-industry rules that prevent firms from benefiting from regulatory arbitrage, European Union financial markets commissioner Michel Barnier said.

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