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The article reports that financial industry startup, LedgerX, is claiming that it has lodged an application with the U.S. Commodity Futures Trading Commission to unveil the first Bitcoin options exchange and clearing house.

The article reports that three clearing members are ready to clear the variance futures of Eurex clearing house with the exception of ABN Amro Clearing. Topics mentioned include the launch of Eurex's variance futures in September 2014 based on methodology from trading group DRW Trading, collaboration of variance conversion methodology developer DRW Investments with Eurex on the launch of the contract, and a product being offered by Eurex to back test strategies and analyse data.

The article reports that the U.S. Commodity and Futures Exchange Commission (CFTC) is asking Europe to recognize clearing houses that are based in the U.S. According to CFTC chair Tim Massad, U.S. clearing houses are compliant with international standards, a reason that they should be recognized in Europe. It asserts that European policymakers are not satisfied with rules that cover European clearing houses serving clients from the U.S.

The article reports on the possibility of a Clearing Cliff in the European derivatives market if non-European Union (EU) Central Counterparty Clearing House are not recognized before December 15, 2014. It notes that financial institutions that are members of these clearinghouses will be needing higher capital requirements which is deemed uneconomic. It asserts that a Clearing Cliff takes place when access to clearing services are disrupted.

The article reports on European clearing houses that are planning to launch inflation swap clearing in 2014. They include Eurex Clearing, LCH.Clearnet and CME Clearing Europe. Topics discussed include concerns that clearing inflation swaps could lead the European Securities and Markets Authority (Esma) to bundle them into the clearing mandate.

The article reports that LME Clear, the new clearing house set for by the London Metal Exchange (LME), has been approved as a recognised central counterparty (CCP) by the Bank of England under the European Markets Infrastructure Regulation (Emir). Topics discussed include the plan to launch the clearing house on September 22, 2014, and a claim by LME Clear chief executive officer (CEO) Trevor Spanner that they met the high standards required by Emir.

The article reports on the launch by Brazilian exchange group BM&FBovespa of the BM&FBovespa Clearinghouse in 2014. Topics discussed include changes expected from the launch, such as a reduction in the market's back office costs, greater flexibility and lower time frames for the launch of new products. Also mentioned is the company's expectation that the exchange will support its growth for the next 20 years.

The article reports on the action taken by the European Securities and Markets Authority (Esma) to detail the central clearing obligation for interest rate and credit default swaps in 2014. Topics covered include the impact of the European Market Infrastructure Regulation (Emir) on over-the-counter (OTC) derivatives, the launch of consultation papers on the clearing mandate for swaps and the clearing houses that have been approved to clear OTC derivatives.

The article focuses on a European court case that will challenge the right of British clearing houses to operate in the Eurozone. Topics covered include the decision by the European Central Bank (ECB) not to provide central bank liquidity to clearing houses outside the Eurozone, the potential effect of a ruling against Great Britain on the European Union single market and the rejection of the case against the European financial transaction tax (FTT).

The article reports on the agreement reached by tech firm Markit with the Korean Exchange in 2014 to support clients' efforts to comply with a mandate for central clearing of Korean swaps.

The article focuses on the white paper released by central counterparty (CCP) Eurex Clearing which warns clearing houses that seek to reduce collateral fees to win business. Topics covered include the preference shown for strong conservative risk management standards, the benefit of having a minimum of two CCPs in a particular market and the concerns raised on the move to central clearing. Also included are the insights of chief executive Thomas Book on the issue.

The article reports on the approval received by clearing house Keler CCP to clear derivatives by the European Securities and Markets Authority (Esma) in 2014. Topics covered include the range of exchange-listed derivatives that will be cleared by Keler, the need for Esma to approve all the applied clearing houses prior to the submission of draft regulatory standards to the European Commission and the advantage of gaining equivalence with Europe's new clearing mandates.

Europe has set the industry until early 2017 to be ready for Mifid II [ABSTRACT FROM AUTHOR]

Fine will hurt the bank but the clearing ban could have major affects on its US plans [ABSTRACT FROM AUTHOR]

BNP said it will use another bank for the one year it is banned from US clearing [ABSTRACT FROM AUTHOR]

British market is one of a number of firms vying to run the silver price mechanism [ABSTRACT FROM AUTHOR]

The article reports on the plan of British bank RBS to support client trading on new U.S. market Eris Exchange.

The article discusses how the emergence of clearing and electronic swaps venues will affect the derivatives revenue at the world's biggest banks, based on a study by the London School of Economics and Depository Trust & Clearing Corp. (DTCC). Topics covered include the forecast made by consultancy firm McKinsey about the dealing revenue from interest rate derivatives for banks in the G10 countries and the implications of low volatility in the market for banks.

The article reports the move by the New Zealand exchange NZX to start trading in the equity derivatives market on June 16, 2014. According to NZX chief executive officer (CEO) Tim Bennett, trading will be done at the NZX 20 Index Futures contract. The opinion of NZX head of markets, Aaron Jenkins, on the developments is also cited.

The article reports the memorandum of understanding (MOU) that was signed by the U.S. Commodity Futures Trading Commission (CFTC), the Reserve Bank of Australia and the Australian Investment and Securities Commission (ASIC) as of June 2014 for regulating cross-border clearing firms in their jurisdictions. A similar deal signed by CFTC with the European Commission was ignored by European companies. The CFTC also signed an MOU with Japan's Financial Services Agency (FSA).

The article reports the claim by French futures broker Newedge Chief Executive Officer David Escoffier as of June 2014 that he is focusing in the efficient allocation of resources as they confront consolidation among providers and higher fees. Among the firm's rivals are JP Morgan, Goldman Sachs and Citigroup. Escoffier also serves as deputy head of global markets at Newedge's parent firm Societe Generale.

The article discusses the latest final standard on the supervisory framework for controlling and maintaining large exposures published by the Basel Committee on Banking Regulation. Topics discussed include the purpose of large exposure limits, the new rules published by the Committee that would relax banks holding of capital in relation to their exposure with clearing houses and the need for banks to set aside a minimum risk weight of 20% to cover their trade exposure.

The article reports that the Basel Committee on Banking Regulation relaxed its rules on capital holdings by banks following their exposure to central counterprties (CCP). Topics discussed include the committee's ruling for banks to set aside a minimum risk weight of 20 percent to cover their trade exposure to clearinghouses effective January 1, 2017 and the benefit of the rules to bank clients.

The article reports that the European Market Infrastructure Regulation (EMIR) authorised the Polish clearing house KDPW-CCP to work with bank trading swaps denominated in Polish Zloty. Topics discussed include the approval resulting to the authorisation of currency products in regulated markets and KDPW-CCP Chief Executive Officer (CEO) Iwona Sroka's comment on the benefits of the service to the Polish and European financial market.

The article presents the highlights of the Futures Industry Association conference held in Florida in early 2014. Nasdaq OMX's Bob Greifeld discussed the prospects of the futures market in Europe. U.S. Commodity Futures Trading Commission (CFTC) acting chairman Mark Wetjen talked about the conditional relief for European clearing houses from the Dodd-Frank act.

The article reports that European independent clearing house, LCH.Clearnet Group Ltd. has applied for an update license to expand its U.S.-based business. It states that the clearing house is allowed on swap execution facilities under the issuance of no-action letter from the U.S. Commodity Futures Trading Commission (CFTC) to secure permanent access to the market. It notes that the clearing house offer services for Nodal Exchange in a designated contract market .

The article offers world derivatives-related news briefs. U.S. Commodity Futures Trading Commission (CFTC) has granted North American Derivatives Exchange (Nadex) exemption from certain provisions of their rules for derivative clearing organisations (DCO). Canadian Securities Administrator (CSA) seeks comment on the Model Rule aimed at increasing resilience of derivatives clearing agencies. Buy side firms have signed up for EurexOTC Clear, a central counterparty service for interest rate swaps.

The article focuses on the claim of Chicago, Illinois-based options and futures exchanges CME Group Inc. chief executive officer (CEO) Phupinder Gill over the company's aim in raising the number of its Asian clearing members for driving growth abroad.

The article reports on the completion of financial services provider Intercontinental Exchange Inc.'s (ICE) acquisition of derivatives trader Singapore Mercantile Exchange Pte Ltd. (SMX) through a $150 million deal approved by the Monetary Authority of Singapore (MAS). It mentions its management of the licenced clearing house, SMXCC, operated by former Singapore Exchange Ltd. (SGX) president Ang Swee Tian. It notes that the agreement will enhance its commodity futures trading throughout Asia.

The article reports that global multi-asset brokerage Newedge Group SA was hired by London, England-based derivatives service provider Tower Trading Group Ltd. for its clearing services as part of its expansion in Asia and the Middle East.

The article reports on several banking companies that have extended their support on the Australia Securities Exchange's (ASX) swap clearing service in a boost for the organization as it faces competition from new entrants. The companies include Deutsche Bank AG, J.P. Morgan Chase & Co. and Westpac Banking Corp. According to Peter Hiom, deputy chief executive of ASX, the move represents an important milestone in the development of their service.

The article reports on the relaunch of the triReduce compression cycles by TriOptima AB with LCH.Group Ltd.'s SwapClear service after a 6 month interval suspension. Noted was its suspension in 2012 to allow a system upgrade at LCH that ensures compliance with real-time trade processing rules. Indicated is the service that covers cleared and un-cleared post-trade efficiency while at regular cycles and at reduced number of cycles of the outstanding OTC derivative transactions.

The article reports on the partnership between BNP Paribas SA and Morgan Stanley and Co. Inc. with Eurex Clearing AG's EurexOTC Clear for interest rate swaps that increases the number of members to 32. Noted is the establishment of EurexOTC Clear in November 2013 which integrates the clearing and collaterization of OTC into a single clearinghouse . Global co-head of FI clearing Gavin Dixon at BNP Paribas says that joining with EurexOTC Clear has been considered a major element of its approach.

The article reports on a daily volume record of 15,125 contracts achieved by ICE Endex on December 3, 2013 in Dutch TTF natural gas futures. On October 7, 2013, the ICE Endex futures markets transitioned to the ICE trading platform and ICE's European clearing house, ICE Clear Europe. A liquidity pool and the largest on-exchange TTF futures contract can be created with a combination of open interest and trading for ICE Endex TTF natural gas futures and ICE Futures Europe TTF natural gas futures.

The article reports on the partnership between the London Metal Exchange Ltd.'s (LME) clearinghouse platform LME Clear and U.S. post-trade financial services company Depository Trust & Clearing Corp. (DTCC) for the development of new trade reporting service LMEwire. It states that LME is preparing its members and clients to comply with the new reporting rules mandated by the European Market Infrastructure Regulation (EMIR). It notes that LMEwire will be available on February 12, 2014.

The article discusses the consequences and issues of implementation of over-the-counter clearing in the U.S.

The article examines a variety of fund segregations models in Great Britain. It looks at why discussions on portability are largely academic. It discusses the importance of client fund segregation and portability but complex areas of the OTC clearing. European Cental Counterparty Ltd. (CCP) was required by Emir section to offer both omnibus and individually segregated accounts.

The article focuses on issues regarding the potential move of the European derivatives clearing houses to increase haircuts on French government debt used as collateral, despite the downgrade on sovereign debt. It reveals that Standard & Poor's, a rating agency, confirms the lowering of France's unsolicited long-term foreign and local currency sovereign credit ratings from AA+ to AA. An overview of the French debt is provided.

The article discusses the first part of a four-part series on the implementation of the over the counter (OTC) derivatives clearing mandate in Europe. It mentions the impact of the European Parliament's OTC mandate on market participants and the launch of electronic derivative trading. It discusses the provisions under the European Market Infrastructure Regulation. It also emphasizes the requirement for an OTC transaction for financial institutions and non-financial counterparties.

The article reports on the cautionary advice of Bank of England outgoing Deputy Governor Paul Tucker to all clearing houses to be closely regulated on the potential effects of a default on the financial system. It mentions the concerns of Tucker on the insufficient of oversight on central counterparties (CCPs). It also mentions the mandate given by the leaders of G20, a group of finance ministers and central bank governors, to clear the trades to prevent the risk of bilateral trading.

The article reports the launching by the International Organisation of Securities Commissions (Iosco) as of early August 2013 of a new guidance allowing buy-side firms to be tapped up to support bankrupt trading infrastructure. The guidance is in stark contrast with a recommendation being tackled by the European Parliament. It claims that both buy-side and sell-side firms are mandated to use central counterparties (CCP) as clearinghouses for their over-the-counter (OTC) deals.

The article reports that the Depository Trust & Clearing Corp. (DTCC) has acquired post-trade automation specialist Omgeo. DTCC purchased the remaining 50 percent share that it does not own from media company Thomson Reuters to fully acquire Omgeo. The post-trade specialist was formed in 2001, with Thomson and clearing company DTCC owning equal shares. DTCC has claimed that full ownership of Omgeo will help the company reduce risk and cost with the help of post-trade processing services.

The article reports that clearinghouse LCH.Clearnet has received approval to launch the first credit default swaps clearing service in Europe. LCH's move is reportedly part of its expansion plan prompted by market reforms that push over-the-counter derivative trades through clearing. According to chief executive officer (CEO) Charlie Longden, global regulatory momentum is forcing OTC market participants to seek the services of clearinghouses with proven risk and default management.

The author discusses the challenges faced by chief executive officers (CEO) taking over a prominent derivatives market-related company. According to the author, executives in clearing houses and stock exchanges are some of the most influential in the world. He states that increased competition and global decline in trading volumes also make it more difficult for CEOs to handle pressure. He adds that companies are looking for CEOs who can lead and preserve the businesses' good reputation.

This section offers news briefs on derivative securities as of June 20, 2013. The Australian government granted an extension on clearinghouse LCH.Clearnet's clearing and settlement facility license to allow it to offer the SwapClear over-the-counter (OTC) interest rate swap clearing service to banks. A trading record was posted by the Dubai Mercantile Exchange in June 2013. The Tel Aviv Stock Exchange will launch weekly options and futures on the Tel Aviv-25 index.

The article reports on commodities exchange New York Stock Exchange (NYSE) Liffe's completion of its clearing transition to ICE Clear Europe, the clearinghouse for the Intercontinental Exchange's (ICE) global energy markets. The agreement is described as a part of the planned merger deal between the two exchanges. Fostering margin efficiencies and enabling economies of scale as well as increasing European clearing competition are cited as the goals of the merger.

This section offers news briefs on derivative securities as of June 20, 2013. William Barkshire resigned as a director of the Hong Kong Mercantile Exchange several weeks after the bourse stopped trading. The London Metal Exchange (LME) will migrate contracts to its own clearinghouse, which will charge similar fees to the LCH.Clearnet clearinghouse. A partnership between the International Securities Exchange and BlueStar Indexes to create indices for exchange-traded products is cited.

The article reports on the plan of the London Metal Exchange (LME) to migrate contracts to its own clearing house in September 2014 and terminate its deal with LCH.Clearnet. It states that there is an increase in clearing competition in the European derivatives market as exchanges seek to take advantage of the new wave of business resulting from regulatory reform. It notes that LME will still clear through LCH.Clearnet until September 22, 2014.

This section offers news briefs on the derivatives market. The Warsaw Stock Exchange (WSE) is considering to modify its WIG20 index by separating it into WIG5 and WIG30 indices. Three natural gas clearing locations were added by the Natural Gas Exchange (NGX) in the U.S. Futures Industry Association (FIA) Chairman Walter Lukken has revealed that the positions of U.S. Commodity Futures Trading Commissioners Gary Gensler and Bart Chilton may not be renewed.

The article reports that clearing houses operator Intercontinental Exchange (ICE) filed a motion for approval with the European Union (EU) for its plan to takeover New York Stock Exchange (NYSE) Euronext. It was reportedly revealed that another bidder, from Bershire Hathaway is competing for the merger. ICE's proposed deal reportedly contains an agreement expanding ICE's interest-rate derivatives market business with ICE's takeover of NYSE Euronext's exchanges.