Peter Madigan

Tweet Facebook LinkedIn Save this article Send to Print this page The European Central Bank (ECB) has warned in a letter to the Commodity Futures Trading Commission (CFTC) that it might have to stop trading over-the-counter derivatives with US counterparties if it – and other eurozone central banks – are not granted exemptions from clearing, execution and reporting elements of the Dodd-Frank Act. The ECB also wants to be exempt from proposed rules on margining for uncleared trades.

Image: Stephen Lee / NB Illustration June 24 meant different things to different people: for those hoping the UK would cut its ties with the European Union, their shock victory ushered in a joyful 'independence day'; for politicians, it was a popular uprising; for sterling traders it was a day of historic volatility. And for swaps clearing houses and their members, it was an edge-of-the-seat, real-world stress test.

Barclays headquarters, London Evidence that Barclays attempted to manipulate the fixing price of the benchmark Libor and Euribor interbank lending rates could result in tens of billions of dollars in fines and penalties across the dealer community, as the victory prospects for a series of civil lawsuits received a boost in the wake of the bank's settlement with regulators in the UK and US.