Settlement risk
Banks eye Traiana for EM forex netting service
Industry turns to Icap-owned utility as CLS emerging markets push stalls
Euroclear and Clearstream granted time to agree joint road map
Both ICSDs intend to start a feasibility assessment for real-time settlement after the completion of Target2-Securities migration in June 2017
CLS facing obstacles adding RMB to its platform
Market experts predict that a risk-free settlement mechanism could double trading of offshore RMB, but forex settlement utility CLS is facing obstacles in adding the Chinese currency to its platform
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC forex options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
Sefs cause two-tier market as Asia OTC liquidity splits
Swap execution facilities started life on October 2 and they have already created separate pools of liquidity in the Asian market. How have Asian firms reacted to the new reality?
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of forex options
Is fully compliant SSI data finally in sight?
Bill Meenaghan, global product manager for ALERT at Omgeo, explains the crucial role that Standing Settlement Instructions play in the trade-processing life cycle, and the importance of quality trade settlement data
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to foreign exchange trading is crucial, warns head of financial market infrastructure at the New York Fed
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership and its currencies
Basel proposal to capitalise settlement risk ‘unnecessary’
In comment letters published last week, banks have taken issue with Basel Committee guidance that would capitalise post-execution exposure to settlement risk
Concerns raised over Basel settlement risk guidance as consultation closes
The revised guidance on managing settlement risk could distort the forex market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants
Basel settlement risk guidance puts new demands on forex market
Governance, replacement cost risk, liquidity risk, operational risk and legal risk are among the issues forex dealers must address, according to newly released Basel Committee guidance
CLS hires JP Morgan veteran as chief executive
David Puth will become the next chief executive of CLS, starting next week, the settlement risk utility announced today
New CPSS/Basel guidance on FX risk management to be published soon
A new consultation paper on risk management practices in the FX market will be released in the third quarter – and may be published as early as this month
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
CLS pushing 'transformation' agenda, says Bozian
The central settlement utility is feeding greater resources into expanding its universe of currencies, according to chief executive Alan Bozian
Profile: CLS Bank's Bozian on regulatory co-ops and CCP settlement risk
Regulators are struggling to ensure they have oversight of over-the-counter market infrastructure without losing the benefits of centralisation. CLS Bank’s council of supervisors could be the precedent they follow. By Michael Watt
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…
Interbank settlements: the cash must flow
Interbank payment systems came through the strains of the 2008 crisis without serious problems, but regulators nevertheless believe there’s room for improvement. ORR talks to people within the settlement companies about their plans
Bank of England aims to cut op risk exposure to payment systems
Moves to overhaul Chaps will cut risk for central bank as well as members, says Chris Salmon, chief cashier at the Bank of England