The model aims to minimize client driven capital costs.
Each clearinghouse generated sufficient liquidity to meet its settlement obligations.
Global clearer ABN will distribute Fidessa’s derivatives EMS.
Better optimization of swaps and futures holdings can help clearinghouses.
Deutsche Börse wants to take clearing of interest rate swaps from LCH.
Interoperability between different technologies may cause fragmentation.
MiFID II moves trading in liquid derivatives onto regulated venues.
US and EU entities may be unable to trade some derivatives in January without a decision.
Margin rules for uncleared derivatives have boosted central clearing.