Kim Taylor News
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On a good day, 27-year-old Bobby Timberlake at CME Group Inc. in Chicago rounds up $2.5 billion from the world’s biggest traders and banks such as JPMorgan Chase & Co. to cover their losses in the $639 trillion derivatives markets.
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K&L Gates LLP and Australian firm Middletons agreed to combine as of Jan. 1. Middletons’ 300 lawyers in four Australian offices will bring the firm, which will continue to be known as K&L Gates, to 2,000 lawyers in 46 offices on five continents.
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U.S. policies for swaps data have been amended and opened for additional public comment after a lawsuit challenging the rules was filed by CME Group Inc., owner of the world’s largest futures exchange.
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CME Group Inc., operator of the world’s largest futures exchange, has been approved by the U.S. Commodity Futures Trading Commission to operate a database for information on interest rate, credit and other swaps.
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CME Group Inc. plans to allow swaps traders to keep collateral with a third party, offering stronger protections than U.S. regulators required after MF Global Holdings Ltd. failed to safeguard $1.6 billion in customer cash.
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LCH.Clearnet Group Ltd. asked to be exempted from a rule taking effect next week requiring the largest clearer of interest-rate swaps between banks and their customers to confirm trades in less than 60 seconds.
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JPMorgan Chase & Co. and Bank of America Corp. are helping clients find an extra $2.6 trillion to back derivatives trades amid signs that a shortage of quality collateral will erode efforts to safeguard the financial system.
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CME Group Inc. plans to allow swaps traders to keep collateral with a third party, offering stronger protections than U.S. regulators required after MF Global Holdings Ltd. failed to safeguard $1.6 billion in customer cash.
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LCH.Clearnet Ltd., the biggest interest-rate swap clearinghouse, is considering accepting corporate bonds for the first time to meet an anticipated surge in demand for a broader array of collateral in the $601 trillion over-the-counter derivatives market.
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Swaps investors should be prepared to pay more for clearing services if they want their margin protected against being used to fund another investor’s default, industry executives said during a panel discussion in Florida.
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