Articles by Luke Clancy
LCH users weigh early exit as fears grow of EU ban
Two CCPs report interest from LCH customers; banks expect first book transfers in early 2018
Fed weighing VM capital cut for cleared swaps
Powell implies support for practice that saved UBS $300m in capital
R3 claims progress on smart contracts standards
DLT consortium under pressure to show cohesion after JP Morgan departure
Trump reforms, euro clearing and FRTB
The week on Risk.net, June 9–15, 2017
ECB and Esma would call shots on euro clearing
Proposals give central bank and regulator the power to bar biggest third-country CCPs
Is it $5bn or $77bn? Data enters the euro clearing row
Eurex set to challenge LCH estimates of clearing relocation costs
IRB and Esma data, FRTB and hedge funds
The week on Risk.net, May 12–18, 2017
Deutsche Börse exec backs euro clearing landgrab
Swiss CCP operator Six x-clear defends current equivalence regime
Netting no problem for blockchain, tech firms tell regulators
Firms say DLT can sit with current market practice, but instantaneous settlement 'not desirable'
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
Euro clearing location paper due on June 28
Short precursor on Brexit-related initiative expected on May 4, alongside Emir review
Volcker, FRTB and dual netting sets
The week on Risk.net, April 14–20 2017
Digital Asset enters healthcare as blockchain questions grow
Masters’ firm quietly moves beyond finance; works with PNC Bank
Traders wary of censure for being a ‘few bips out’
Mifid II best execution requirements intrusive and painful, say asset managers at Buy-Side Risk Europe 2017
Trump-Putin dialogue tipped to contain energy focus
Former Russian oil minister predicts meeting, but White House has no announcements “at this time”
FCA: ‘wait and see’ if Mifid swaps rules are ready in January
Trading obligation consultation due by May, as industry urges clarity rather than speed
From swaps to software: rivals eye Goldman and JP tech plans
Goldman Sachs and JP Morgan upending years of bank strategy by making systems available to clients
Emir review delayed until June 7
Postponement increases risk of entangling the review with Brexit euro clearing debate
EC rebuffs euro clearing relocation policy in Emir review
UK pushes back against French demands to shift CCP business post-Brexit
EC could use thresholds to squeeze London euro clearing
Most euro clearing could be repatriated after Brexit without hitting other jurisdictions
LEI reporting initiative defended, despite high lapse rate
Operators of legal entity identifiers hope Mifid II will spur greater adoption
Fund admin providers see strong demand for illiquid strategies
Three-quarters of survey respondents administering $4.4 trillion collectively get weekly illiquids enquiries from managers
R3 banks disagree over DLT implementation
Blockchain consortium confident it can raise $150 million by next summer
Clearers laud EC transition extension for non-EU CCPs
Absent the extension, OCC estimates extra $74 billion in RWAs for European members