CFTC backs banks in tussle over clearing house governance
CME and Ice will need to pay more attention to clearing members on risk committees
Source: risk.net
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LME contract tear-up may have averted "multiple defaults" – CEO
Decision to cancel nickel trades on March 8 forestalled ‘unprecedented’ margin call, argues exchange chief
City Of United Kingdom Matthew Chamberlain London Metal Exchange London Metal Exchange Lme Learing Members
Source: risk.net
CME chief's arguments at FTX hearing raise eyebrows
Terry Duffy’s criticism of exchange’s direct clearing proposal revives debate over ‘skin in the game’
Terry Duffy House Committee On Agriculture Commodity Futures Trading Commission Cftc Cme Group Default Funds Initial Margin
Source: risk.net
OCC member default fund contributions jump 8%
CCP’s skin in the game fell slightly in Q4, making up 1.8% of the prefunded total
Options Clearing Corporation Options Clearing Corporation Occ Federal Reserve Bank Of Chicago Learing Members Variation Margin Initial Margin
Source: risk.net
OCC member default fund contributions climb 11%
CCP's skin in the game up almost 5%
Options Clearing Corporation Options Clearing Corporation Occ Learing Members Default Funds Isk Quantum
Source: risk.net
CCPs unlikely to be wiped out by op losses, research suggests
Former LCH risk chief says sharing loss data would help CCPs avoid risk of holding too little capital, or too much
Source: risk.net
FCA plans default fund option for personal pensions
The regulator wants to introduce a default pension investment option for non-advised savers outside of workplace schemes to boost retirement savings.
Tom Selby Sarah Pritchard Andrew Tully Hargreaves Lansdown Helen Morrissey Financial Conduct Authority
Source: professionaladviser.com
OCC increases skin in the game in Q2
Own funds to handle a participant collapse amounted to $313 million
Options Clearing Corporation Options Clearing Corporation Occ Learing Members Default Funds Isk Quantum
Source: risk.net
Top CCPs invest little clearing member cash in securities
Risk.net Only five of the 10 top central counterparties (CCPs) assessed by Risk Quantum invest cash received from their clearing members into securities. Of these, three downsized their portfolios over the 12 months to end-September. LCH Ltd, LCH SA, Ice Clear Europe, Ice Clear US and the futures and options unit of CME all disclosed that some amount of cash received as initial margin or default fund contribution from their members was invested as of Q3. LCH Ltd had the largest share of rece...
Risk Quantum Ice Clear Europe Lice Clear Ice Clear Credit Ice Clear Us Depository Trust Amp Clearing Corporation Dtcc
Source: risk.net
Skin in the game of top CCPs varies
Risk.net Print this page At most leading central counterparties (CCPs), the amount of own capital they put on the line to cover losses in the event of a clearing members’ default is vanishingly small relative to that contributed by participants. On average, CCP own funds made up a little less than 4% of prefunded default fund resources as of Q3. Risk Quantum assessed data disclosed for 23 default funds across 10 top CCPs. The Fixed Income Clearing Corporation (FICC) had the ...
Income Clearing Corporation Risk Quantum Fixed Income Clearing Corporation Ice Clear Credit Ice Clear Europe Ice Clear Us
Source: risk.net