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CDS
Latest Headlines
Latest Headlines
SEC lawyer also a witness in Tourre proceedings
We've often discussed the problem of the regulatory revolving door, which usually features regulators angling for jobs with the firms they once regulated. It's a huge issue. Now, the New York Times
Nasdaq OMX to clear interest rates swaps?
Most of the attention in the derivatives clearing sweepstakes has been riveted on the credit default swaps market. But the interest rate swaps market is much bigger and ultimately even more
Clearinghouse ownership caps a blow to dealers?
The move toward clearinghouses to clear trades in over-the-counter derivatives has long been seen as a win for dealers. I'm not saying they anticipated the regulatory imperative toward such
CME starts clearing trades
The CME has come storming into the credit derivatives central clearing market in a big way. Last week, we noted the exciting development that it had inked deals with a host of dealers and, perhaps
A re-energized player in CDS clearing
Clearing credit derivatives has been a huge issue as of late, and for a while there, it seemed as if the industry was on the verge of real competition in a new field: CDS clearing. A host of
Update: OTC derivatives and exchanges
A recent House bill, known as the Over-The-Counter Derivatives Market Act if 2009, states plainly that many swaps, including credit default swaps, are to be traded on exchanges. You would think the
CDS clearing market to shift?
Does the CME Group have a chance in the nascent CDS clearing market? It certainly remains the underdog. The IntercontinentalExchange, known as ICE, has leaped out of the gate to a big advantage. It
CME, Citadel give up on CDS exchange plans
This is hardly surprising. The CME Group and Citadel have abandoned their plans for a credit default swaps exchange services. Clearly, the big Wall Street dealers that dominate the CDS order flow
What's next for derivatives trading?
You do get the feeling that Wall Street dealers are hell-bent on avoiding a mandated move to exchange-based derivatives trading. We've noted before that exchange-based trading is associated with
The state of CDS clearing
Toward the end of last year, there was a groundswell of activity toward building a true central clearinghouse for credit default swaps. The Fed had all but mandated it and just about everyone in the
