27 January 2015

CCPs: Risky Is as Risky Does

George Bollenbacher, Capital Markets Advisors

Has mandatory clearing for swaps concentrated risk in the CCPs and made them too big to fail? Two recent industry papers bring into sharper focus the debate that has been raging under the surface of the markets. rest of story...


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    New Wave of Electronic Trading in Brazil

    The financial markets in Brazil are much smaller than they could be, says TABB Group founder and CEO Larry Tabb, who points to a number of macro factors, including the business and economic climate, that are holding ...
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    Surveillance and Best Ex in the OTC Markets

    Scrutiny of over-the-counter markets – both by regulators and market participants – has been intensifying. But how do you monitor a market that doesn’t have a market center for manipulation ...
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    2014 TOP VIDEOS: The Buy-Side Transition to SEFs

    This video originally was published on Feb. 19, 2014. As the buy side looks to connect with the various SEFs, two major concerns have dominated the discussion: the search for liquidity and the onboarding process. ...

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Fixed Income Opinion & Analysis


Initial Margin, Swap Pricing and a Market-Maker Advantage

Chris Barnes, Clarus Financial Technology

In the new swaps world in which we live, it is increasingly important for market-makers to keep a balanced book, as this will actually reduce a dealer’s Initial Margin requirement at the CCP. This is one key aspect of how new liquidity providers can out-maneuver the incumbents. Continue

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