The specter of an impending Greek default and subsequent exit from the Eurozone that was raised over the weekend unsurprisingly has traders and politicians on the edge of their seats, but a default could mean plenty of pain for the back-office too, industry observers say. “I think it will rank somewhere between a bad dream… Read More >>
Settlement Underway Amid Bank Holiday in Greece
As Greece moves toward default on its International Monetary Fund (IMF) loans, a nation-wide referendum has been scheduled for Sunday, July 5, to decide whether Greece remain in the eurozone. In addition, a bank holiday has been underway since June 28. At the same time, the Hellenic Capital Market Commission (HCMC) made the following announcements… Read More >>
JPMorgan Targets ‘Too Big To Fail’ CCPs
Do central counterparty clearing houses (CCPs) take seriously enough the suggestion — made by many analysts and market participants — that they might become “too big to fail?” That question has hung in the air for years now, ever since post-crisis regulatory reforms assigned CCPs a key role in derivatives markets. Attempts to provide an… Read More >>
