SwapClear’s Walker made the comments at the SFOA conference in Geneva
LCH.Clearnet has hit out at the Basel III
bank capital rules, stating that clearing brokers are being
pushed out of the market for failing to take into account the
risk reducing effects of segregated margin.
Speaking at the Swiss Futures and Options
Association’s Burgenstock Conference, Richard
Walker, executive director at LCH’s SwapClear,
said the combination of mandatory clearing rules along with
increased bank capital standards was contradictory and was
forcing clearing brokers resulting in concentration risks and
higher fees for clients.
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