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BCBS proposes action on “window dressing” in G-SIB reporting
07 March 2024
Switzerland Reporter Bob Currie

Basel Committee considers requiring banks falling into scope of the Global Systemically Important Bank (G-SIB) framework to report G-SIB indicators based on average values over the reporting year, rather than by using year-end values

CME BrokerTec reports 17% rise in US repo volumes
04 January 2024
Europe, US Reporter Sophie Downes

US repo recorded an average daily notional volume of US$313.5 billion in December, with EU repo declining 17 per cent to volumes of €267 billion

Finteum moves towards year-end live date for intraday repo and FX swaps
08 August 2023
UK Reporter Bob Currie

Trading during a recent 3-day trial was conducted using a simulated settlement environment, but Finteum plans to support live real money trades by the end of 2023. Natwest and UBS are named as two of 19 banking groups involved in the trial

European Repo Survey reveals new record high for outstanding repo value
17 March 2023
Europe Reporter Carmella Haswell

The total value outstanding of repos and reverse repos on the books of 61 institutions that took part in the survey hits a record high of €10,374.2 billion, a 12.8 per cent rise YoY and 7.2 per cent rise from the June 2022 survey

Fears of repo market price dislocation largely contained over year end, says ERCC report
27 January 2023
EU Reporter Bob Currie

ICMA ERCC report finds that repo market participants began year-end preparations early and, despite some early widening of pricing, fears of price dislocation over the turn were largely offset

ECMS postponed until April 2024
05 December 2022
EU Reporter Bob Currie

The ECB has postponed the launch of the Eurosystem Collateral Management System by almost six months to avoid potential friction caused by delayed release of the T2 RTGS payments system

Eurosystem sec lending limit raised to ease year-end functioning
11 November 2022
Europe Reporter SFT

The European Central Bank has increased the limit for securities lending against cash collateral by Eurosystem central banks from €150 billion to €250 billion, following a decision yesterday by the ECB Governing Council

IM collected by Phase 1 firms against uncleared derivatives up 38% YoY, says BIS survey
13 June 2022
Global Reporter SFT

Data from the most recent BIS OTC derivatives survey finds that initial margin posted by firms to leading CCPs contracted 2.2% YoY to US$323.4 billion at year-end 2021

Editor's picks
Full editor's pick search for "year-end"
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Repo market panel: a return to normalised market-based financing?

Repo market practitioners share their views with SFT on recent trading dynamics in global repo markets, the impact of monetary tightening, automation across the repo lifecycle and new opportunities available through P2P repo

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European Securities Lending Panel

Europe-based securities lending specialists focus on recent market performance, the projected impact of central bank monetary tightening and key opportunities for growth of their lending activities

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UMR: A sheep in wolf’s clothing?

The UMRs are often painted as just another burden to be managed, but will they also drive more firms into the securities finance markets to access assets for initial margin? Industry experts debate the opportunities

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Two stories to tell

The US is seeing two sides to securities lending, while the supply side enjoys a story of growth, the demand side is telling a disappointing story

Features
Full feature search for "year-end"
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The case for peer-to-peer repo solutions in EMEA

Cassandra Jones, managing director and EMEA head of securities finance client management at State Street Global Markets, assesses the peer-to-peer construct and its potential to empower the buy side

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The repo market is dead, long live the repo market!

Cyril Louchtchay de Fleurian, consultant on repo markets and securities finance trades, argues that current inflationary pressures and central bank rate increases are delivering what 15 years of low interest rates have failed to do, reshaping a securities finance industry which has become vulnerable and outdated

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Preserving calm at year end

Published each January, the ICMA European Repo and Collateral Committee year-end report examines how end-of-year conditions have impacted leading repo markets. Bob Currie analyses its latest release

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UMR and FX clearing: a new landscape offering many benefits

UMR adoption has generated an exponential growth in regulatory IM, driving more focus on collateral management and optimisation. Vinayak Dange, head of product management, clearing and reconciliation at Adenza, says firms stand to gain from FX clearing

Interviews
Full interview search for "year-end"
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Brian Ruane
BNY Mellon

Against a backdrop of market uncertainty, Brian Ruane, CEO of BNY Mellon’s Clearance and Collateral Management business, explains how the firm is navigating the changing environment for its clients

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Frank Gast and Carsten Hiller
Eurex

Eurex’s Frank Gast, managing director and member of the management board of Eurex Repo, and Carsten Hiller, head of Central Europe funding and financing, fixed income sales, discuss the past, present and possible future of Eurex’s GC Pooling product

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Alexander Westphal, director
ICMA

Alexander Westphal, ICMA director, market practice and regulatory policy, speaks to Bob Currie about repo market performance, concerns over collateral shortages and the European Repo and Collateral Council’s working agenda for 2022

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Xavier Bouthors
NN Investment Partners

Xavier Bouthors, senior portfolio manager, investment solutions, NN Investment Partners, talks to Bob Currie about responsible investment, sustainable lending and the direction of NN IP’s securities finance strategy

Country profiles
Full country profile search for "year-end"
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Warning: Change ahead

Industry experts offer a run-down of everything to be cognisant of in the US market for 2020, from fixing the repo market and possible collateral rule changes, to revenue predictions and much more

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Asia

A difficult end to 2015 has not deterred securities borrowers and lenders in Asia, where certain markets enjoyed significant growth and offered new opportunities

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South Korea

Local and international players give their thoughts on South Korea, including tips for hedge funds, thoughts on corporate actions, and frustration with CSDs

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Canada

Hit by a flat equity sector and a wavering currency—but Canada is not down and out just yet. SLT reports

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