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Total Return Futures: Regional Growth and Financing Replacement Opportunities
This report offers an in-depth look into the use patterns, growth trends and product development roadmap for Total Return Futures (TRFs). TRFs have been growing in popularity in Europe and the US,...
View ArticleUS SEC adopts anti-fraud measures in the security-based swaps market
The Securities and Exchange Commission today adopted rules to prevent fraud, manipulation, and deception in connection with security-based swap transactions and to prevent undue influence over the...
View ArticleSEC Reopens Comment Period for Position Reporting of Large Security-Based...
The Securities and Exchange Commission yesterday reopened the comment period for its proposed rule for position reporting of large security-based swap positions that exceed certain thresholds, and the...
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Custom baskets are the next big opportunity for Total Return Futures
Why trade a bilateral Portfolio Swap when you could roll the same basket into a Total Return Future (TRF) wrapper that is centrally cleared at a lower cost and can be cross-margined? That is the lesson...
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Over the 5%: where US Total Return Swaps are driving equity market prices
Our analysis of US Total Return Swaps (TRS) data shows that the overall market remains healthy, with most positions trading in ways that would not overly impact the price of the underlying security....
View ArticleWematch platform passes $200bn for TRS volumes in August
Wematch.live announced it has surpassed $200 billion in ongoing notional volume as of August 2023 and reached an average daily matched volume (ADMV) of $11 billion in Europe, Middle East and Africa...
View ArticleFried Frank: trade groups reiterate opposition to SEC’s 10B-1 proposal
A number of trade groups and industry commenters, including the Institute of International Bankers, ISDA and SIFMA; the Bank Policy Institute; the SIFMA Asset Management Group; the American Council of...
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Securities loans get more competitive vs Total Return Swaps in the US Basel...
A technical change in the US Basel III Endgame Notice of Proposed Rulemaking (NPR) sort of looks to benefit securities finance over Total Return Swaps (TRS) on bank balance sheets, at least in certain...
View ArticleSEC adopts rules for security-based swap execution facilities
The Securities and Exchange Commission (SEC) adopted new Regulation to create a regime for the registration and regulation of security-based swap execution facilities (SBSEFs). The new regulatory...
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Interview: CME on who’s trading AIR Total Return Futures, why, and what’s...
CME recently announced that its S&P500 Adjusted Interest Rate (AIR) Total Return futures (TRFs) reached record open interest and volumes in mid-November. We speak with Paul Woolman, global head of...
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