Initial margin
CCP stress-test rifts emerge as review gets underway
Banks, clearing houses and regulators all divided on question of standardised tests
No quick fix to leverage ratio stance on margin, banks told
Regulators to address capital hit via standard on segregation – but not before 2017
Regulators sound warning on collateral squeeze
Report calls on regulators to fix “structural and regulatory limitations” around collateral
Project Colin: why Goldman-led margin hub fell apart
Secretive group disbanded after dealers realised tech firms had similar plans
AcadiaSoft and TriOptima tie-up to usher in new margin hub
Goldman-led dealer consortium stepped aside for middleware and tech firms
CME-LCH basis affecting choice of venue, say buy-siders
Pimco: price gap is now “material”; Eaton Vance says lowest cost is key factor
Bank swap books suffer as CME-LCH basis explodes
Per-bank losses estimated at $20m; CME could lose business
Regulators to put CCP risks under microscope
CPMI-Iosco stress-testing quiz will be precursor for broader risk review
Cutting Edge introduction: Taming MVA
Lloyds quants tackle computation of margin add-on for derivatives prices
MVA by replication and regression
Burgard and Kjaer method is extended to include margin valuation adjustment
DE Shaw sees $65m swaps margin threshold as exposure cap
Isda AGM: Hedge fund plans to share non-cleared swaps around to reduce trading costs
US vs EU CCP scrap may be settled by margin study
Isda AGM: analysis aims to end wrangle over merits of 1-day and 2-day margin rules
Ice considers moving Brent contract to avoid EU margin hike
Ice says move is “not an outcome we want to see” but Emir margin could drive users away
Collateral makes the world go round
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Goldman hikes clearing fees by 75bp as leverage ratio bites
New fee structure amounts to a fourfold increase in some cases
Swaps industry mulling new utility for margin compliance
Utility would run daily margin calls, using open source version of industry’s standard model
Calypso Technology: No FCM, no problem
Ex-RBS clearing head maps out a world without FCMs
Massad backs leverage ratio changes
CFTC chairman “very concerned” about negative impact on clearing
House committee calls on Fed to change leverage ratio
US politicians argue "unwarranted" capital burden will hike end-user costs
CCPs confront the difficult maths of default management
The next time a big dealer defaults, it will hit a host of swap clearing houses simultaneously
Goldman client margin soared $4.5bn during wild October
Biggest one-month margin jump of 2014 triggers speculation among rivals
Senate approves margin carve-out for non-financials
Bill confirming margin exemption now needs President Obama's approval
Buy-side firms seek margin flexibility via CSA changes
Collateral transformation facilities being lined up but are not being used
Examining the collateral and liquidity challenge: Derivatives in the insurance industry
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