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Archegos, GameStop, the last days of Libor – markets just about coped in a bleak and disorderly year

May 7, 2021 by Scott Hood Additionally, parties can include certain contractual language agreeing that an electronic version of a contract (or other document), or the electronic digital storage of such document, is valid. The following example provision can be included in a commercial contract: The eIDAS Regulation defines qualified electronic signature as qualified electronic signature means an advanced electronic signature that is created by a qualified electronic signature creation device, and which is based on a qualified certificate for electronic signatures. The U.S. Code defines an ele...

Risk.net Print this page   The amount of initial margin (IM) held across LCH’s London-based central counterparty (CCP) fell slightly over Q3, having hit record highs at end-June. Collateral held across the company’s four clearing funds remained elevated relative to pre-Covid levels. IM held against interest rate swap (IRS) contracts amounted to £154.4 billion ($210.1 billion) at end-September, down 4% on three months prior. That held against equities dropped more abruptly, by 10% to £2.7 billion. IM for over-the-counter Only users who have a paid subscription or are part o...

Introduction Driven by the Coronavirus pandemic, extreme volatility on the financial markets in early 2020 led to lenders and financial institution counterparties issuing a significantly increased number of margin calls under facilities governed by English law. Due to the rapid devaluation in the collateral held under such facilities, including margin lending facilities and ISDA-governed transactions, these margin calls typically demanded significant amounts of cash or additional collateral within a very short space of time, in order to cover a lender’s or counterparty’s exposure. As happ...