Stricter rules requiring banks to hold more capital to cover their derivatives activities have prompted alarming concerns throughout the industry on their effect on client clearing. Already a number of high profile banks have pulled out of the space, and now Japanese bank Nomura is the latest to review its swaps clearing business according to reports. Global Custodian speaks to Bill Stenning, managing director for Clearing, Regulatory and Strategic Affairs at Societe Generale Corporate & Investment Banking (CIB), about his main concerns on Basel III are, and what the market impact might be with these changes.
Societe Generale has launched a new outsourcing collateral management solution called ‘Tempo’, targeting institutional investors, hedge funds and major corporates.
Tri-party collateral agents must do more to support the incoming buy-side for central clearing, argues Roelf van der Struik, investment manager at PGGM, Holland's leading pension fund.
Clearstream's Global Securities Finance business, which includes triparty repo, securities lending and collateral management, collectively experienced an increase of 11% over March 2014 (€587 billion).
Societe Generale has strengthened its clearing services once again by agreement to transfer futures execution and clearing activities from Jefferies Bache.
The slow and tortured progress of derivatives reform in Asia may prevent fragmentation and allow Singapore to establish itself as the region’s clearing hub, says John Warren, head of Post-Trade in Asia for technology vendor Sungard.
Swiss bank Banque Pictet & Cie has gone into production with software provider Calypso for a collateral management solution to consolidate all collateral activities across its businesses on a single platform.
CME Group’s executive chairman and president Terry Duffy has emphasized that time is running out to come up with a solution to Europe not granting recognition to US clearing houses.