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Top related persons:
Andrew Kelly - 1 It's - 1 Eric Litvack - 1 Litvack - 1 Scott O'Malia - 1 O'Malia - 1 Huw Jones - 1 Chizu - 1
Top related locs:
Washington , Europe U.S Treasuries United States repos
Top related orgs:
U.S . Securities - 1 Exchange Commission - 1 Washington , D.C - 1 REUTERS - 1 Regulators - 1 International - 1 Association - 1 Financial - 1

Search resuls for: "Scott O'Malia"


3 mentions found


☆ Europe should brace for U.S. Treasury clearing rules, says industry body
  + stars: | 2023-11-07 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Nov 7 (Reuters) - Europe has nowhere to hide from U.S. plans to mandate clearing of U.S. Treasuries transactions that will need to be carefully introduced over time, a global derivatives industry body said on Tuesday. A clearing house is backed by a default fund, ensuring that a transaction is completed even if one side of a transaction goes bust. Regulators began mandating the use of clearing more widely in derivatives markets after the global financial crisis in 2008 to improve stability and transparency. "It's something that you need to look at carefully and at this stage I think we still have more questions than answers as to how the actual process of clearing Treasury cash and Treasury repo will play out," Litvack said. Much will hinge on the details in the final rules that determine who will be within scope, O'Malia said.
Persons: Andrew Kelly, It's, Eric Litvack, Litvack, Scott O'Malia, O'Malia, Huw Jones, Chizu Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Regulators, International, Association, Financial, Thomson Locations: Washington ,, Europe, U.S, Treasuries, United States, repos
☆ Global derivatives industry defends CDS after banking blow-ups
  + stars: | 2023-03-30 | by ( Marc Jones | ) www.reuters.com   time to read: +3 min
Credit default swaps (CDS) are derivatives that offer insurance against the risk of a bond issuer - such as a bank - not paying their creditors. European Union markets watchdog ESMA said on Thursday that it, together national regulators, had been "looking into the recent market movements, including in the CDS market". Clearing of individual bank or company CDS is also available at LCH’s CDSClear and ICE Clear Credit. Overall, the credit derivatives market is also far smaller than it was before the 2008 crisis. "The credit derivatives market continues to play a critical role, particularly during times of volatility," Malia said.
☆ Industry body clarifies what happens when crypto derivatives crash
  + stars: | 2023-01-26 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, Jan 26 (Reuters) - An industry body set out a global framework on Thursday for trading derivatives linked to cryptoassets to avoid FTX-style collapses sowing confusion over ownership. The International Swaps and Derivatives Association (ISDA) published guidance for trading digital asset derivatives to clarify what happens when things go wrong in an underlying market, such as the collapse of crypto exchange FTX. While most of the recent problems have occurred in the spot cryptocurrency market, many of the legal uncertainties could affect digital asset derivatives too. It will now include the body's first standard documentation for trading digital asset derivatives, initially covering non-deliverable forwards and options on Bitcoin and Ether. It could be expanded in future to cover additional product types, including tokenized securities and other digital assets executed on distributed ledger technology (DLT), ISDA said.
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