Settlement
Basel guidance on settlement risk delayed until June
Updated guidance on foreign exchange settlement risk from the Basel Committee and CPSS was originally expected by the end of 2011, but now has an expanded remit
Federal judge's ruling could change prosecution of Wall Street
Legal experts see potential effects of Rakoff's SEC-Citi ruling for major banks' settlements
US judge rejects 'inadequate' settlement between SEC and Citi
Manhattan federal judge refuses to approve SEC settlement relating to Citi's negligence over 2007 CDO
ECB offers CSDs financial incentives for early T2S adoption
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
Thai banks deploy continuity plans as settlement and liquidity risks rise due to floods
The Bank of Thailand and the country’s leading banks are moving to ensure the country’s payments systems do not grind to a halt due to Thailand’s worst flooding in 50 years. So far, Thailand’s high value settlement system as well as cash reserves at…
Hong Kong to start OTC derivatives clearing and reporting in January 2013 – HKMA's Lau
Hong Kong will “tentatively” introduce centralised clearing and reporting for OTC derivatives in January 2013, said Edmond Lau, HKMA executive director, at the Isda Asia-Pacific Conference 2011
Regulators could focus on ETFs after UBS losses
Regulators could take some time to change the rules surrounding the exchange-traded products involved in the UBS rogue-trading losses, but banks might see an impact soon in capital terms
FX Week Asia: Options clearing on hold, prime brokers confirm
Forex clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared forex options, according to speakers at the FX Week Asia conference in Singapore
Former hedge fund manager settles charges in Galleon insider-trading case
Former hedge fund manager Steven Fortuna will pay $300,000 to settle charges in the Galleon Management insider-trading case
Greater focus on OTC derivatives op risk required in Asia – Celent
Market participants in Asia need to focus more on operational risks associated with their resurgent OTC derivatives trading volumes, especially as the market moves towards trade repositories and central counterparty clearing, according to a new report…
Special report: Clearing and settlement
Special report: Clearing and settlement
Report recommends ways to tackle energy market manipulation
A new report has suggested a framework for identifying market manipulation, arguing further clarity will boost market liquidity
BoJ’s Miyao pledges continuity of settlements system during planned blackouts
Bank of Japan Policy Board member Ryuzo Miyao says in-house power generation at central bank branches would support settlements systems ahead of planned power shortages
China and HK central banks close to finalising new CNH clearing arrangement
Market participants are close to completing the legal and operational details relating to a new custodian account arrangement that would allow the city's participating banks in offshore renminbi to take credit risk against the People's Bank of China…
Voluntary commitments take back seat to Dodd-Frank
Losing commitment
CLS considers membership category for CCPs
"Allowing CCPs to settle FX trades bilaterally would reintroduce Herstatt risk, so it would certainly be preferable to have CCPs become either direct or third-party members of CLS," says LCH.Clearnet executive
Users of OTC derivatives are not prepared for regulatory onslaught
The raft of new regulations on OTC derivatives will be problematic for buy-side firms, says new report
Asian Financial Forum: China tests further easing of renminbi convertibility of capital account
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renminbi conversion outside of currency restrictions
Santander live as settlement member
Decision to join CLS Bank follows change in policy at Citi, Santander's former third-party CLS provider
ECB could offer governance concession on T2S
European Central Bank could modify governance arrangements of its settlement platform in a bid to entice sterling to join
US lags in same-day affirmation
Asia comes out on top in study by post-trade utility Omego
ICFA talks Target2- Securities with the ECB
Jean-Michel Godeffroy, chairman of the T2S programme board at the European Central Bank, talks through the future of the settlement platform with Melanie White of ICFA Magazine