MarketVoice News
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Neither a Borrower Nor a Lender Be: On CCPs and Banks
A central counterparty, viewed from an economic perspective, is a “commitment mechanism.” The ultimate function of a CCP is to assure performance of contract obligations between its members. They do so by becoming substituted counterparties to all trades submitted for clearing—becoming, in effect “the buyer to every seller and the seller to every buyer”—thereby ensuring the performance of open contracts.
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Expanded Access to Commodity Derivatives
The Securities and Exchange Board of India announced it will issue unified licenses to brokers and clearing members to transact in both commodity derivative and equity markets
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Cooking with Gas
Liquefied natural gas is coming of age as a globally traded commodity, and the world’s futures exchanges have taken note.
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City Against MND: Inaugurating the David Setters Trophy
Members of the futures industry have a long history of rising to challenges placed before them.
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Beyond the Waterfall
As risk management continues to become an increasing priority for global markets, central clearing has emerged as a proven, transparent solution for managing counterparty risk and reducing systemic risk.
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Metals Market Makeover
The London Metal Exchange and LME Clear have published a discussion paper to solicit feedback on a wide range of issues related to its core markets in non-precious metals, including trading and booking structures, clearing structures and services, delivery and physical market structure, membership and the LME ecosystem as a whole.
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Insight: FIA's Roadmap to Smarter Regulation and Healthier Markets
We’ve all heard the saying, “Work smarter, not harder.” Nearly a decade since the financial crisis, we are finally getting a chance to put this adage into practice. In May, FIA published our response to President Trump’s call to review U.S. financial reform rules in the form of a whitepaper outlining specific policy recommendations for improving the U.S. regulatory framework.
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Asia Partnership
Deutsche Börse has added market data from the Taiwan Futures Exchange to its offering, making it possible for its customers to incorporate Taifex data into their systems.
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OTC Derivatives Reform
On April 28, the Monetary Authority of Singapore issued a consultation paper to further implement OTC regulatory reform in Singapore. The MAS is seeking comments on draft regulations that affect exchanges and recognized market operators for the trading of OTC derivatives. The draft regulations cover licensing and capital requirements and transitional arrangements. A second consultation paper will be issued by the MAS later in May which will cover changes to product definitions under the Securities and Futures Act and extend the capital markets services licensing regime to OTC derivatives.
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Trading in 3D
Traders have always thought in terms of tides, waves and cliffs. Soon they will be able to actually see them in the markets.
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