MarketVoice News
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Access to Canada
FIA WORKING WITH CANADIAN REGULATORS TO OBTAIN RELIEF FOR FOREIGN BROKERS
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FX Clearing
Two international regulatory bodies—the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions—issued a statement on Feb. 5 regarding liquidity issues related to the clearing of deliverable FX instruments.
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New Products
The Reserve Bank of India released a report in February recommending the introduction of interest rate options so that banks and corporates can hedge their interest rate risks.
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Commodity Trading
January set a record for cross-border trading at the Tokyo Commodity Exchange.
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CCP Rating
Moody's Investors Service in January published a new methodology for rating global clearinghouses.
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Capital efficiency
TriOptima, a post-trade infrastructure provider owned by ICAP, announced in January that it had terminated $98.5 billion in inflation swaps for 18 banks.
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Voice over Internet
Green Key Technologies, a Chicago-based firm that provides voice-over-internet services designed for traders, recently announced partnerships with Trading Technologies International, a leading vendor of trading software, and Speakerbus.
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New Products
The Reserve Bank of India released a report in February recommending the introduction of interest rate options so that banks and corporates can hedge their interest rate risks. The report, which was drafted by a working group constituted by the central bank, said the market should start with relatively simple products such as calls, puts, caps, floors, collars and swaptions. The report also recommended allowing these products to be offered as both exchange-traded products and over-the-counter derivatives. The central bank said final guidelines will be issued by the end of March, taking into account feedback on the report.
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SEF Benefits
The Bank of England on Jan. 15 released a staff working paper studying the impact of Dodd-Frank rules requiring that certain interest rate swaps be traded on swap execution facilities.
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OTC Clearing
On Feb. 5, the Hong Kong Monetary Authority and the Securities and Futures Commission released the final version of the mandatory clearing rules for interest rate swaps as well as a paper discussing the changes it made to the rules in response to comments submitted by market participants during the consultation process.
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