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  1. Netting problems will restrict pension funds, FCMs warn

    Prior to that, FCMs were denying clearing on swaps to pension plans because they would not want to put themselves in a position where they could not close out the client upon default without violating law," says Patrick Menasco, partner at Steptoe...

  2. US bilateral margin rules: a hit parade of horrors

    They also request comment on the matter, but lawyers say they are not taking it seriously enough. If it is deliberate, it would represent a significant change in market practice and would also penalise end-users, which will have to post more...