Posts by Josh Galper

A key takeaway from GFF on collateral optimization

Finadium Big Ideas Quarterly Q1 2023 now online

How many bank stablecoins will the world need?

We size the global collateral markets at $25.5 trillion, up from $19.8 trillion in 2019

A mandate to clear US Treasury securities loans along with UST repo would upend industry dynamics

Some agent lenders and some repo dealers are converging in their service offerings for clients

Tracking correlations between Total Return Swaps trades and cash equity price movements

Registration now live: Rates & Repo Europe 2023, London, 29 March

Finadium: US Repo Conditions and Market Structure in 2023

Buy-side collateral self-sufficiency to speed up in 2023

The outlook for BBH agency securities lending as an independent business

The private benefits of repo CCPs are proven, but what about the public benefits?

Could HQLA^x‘s solution have helped ease market and operational disruptions during the recent UK Gilt volatility?

Finadium: Agent Lender Survey 2022

Zurich Secfinance and Repo Roundtable – notes and our slides

Assessing climate risk on bank balance sheets is no easy matter

We’re taking DeFi seriously

Would the SEC’s proposal to change 15c3-3a for UST repo clearing change market behavior without a full mandate?

Rates & Repo 2022 webinar replays are online

Two central bank working papers could have short-term impacts on financial regulation

ABCP and structured products in secfinance are freeing up balance sheet and regulatory constraints

Not always exciting but very important, the digitization of documentation in securities finance picks up steam

Mandatory clearing of UST repo is a fine idea but expect a hit to market liquidity

What transparency on leverage is needed after Archegos and LDI-driven Gilt volatility?

Finadium Survey: Asset Managers on Securities Lending 2022

Impacts of the SEC’s N-PX rule on reporting securities loans over proxy vote dates

As part of Singapore’s Project Orchid, DBS has launched a bank stablecoin pilot

China’s selling of US Treasuries: dumping vs. FX volatility management

Finadium Big Ideas Quarterly Q4 2022 now online

Big tech’s entry into capital markets will start with risk management

Gilt lessons: CCPs and market confidence in secured financing markets

An argument for expanding access to the Fed’s Standing Repo Facility, and a rebuttal

Finadium: Bank Stablecoins vs. Central Bank Digital Currencies for Capital Markets

Market participants are asking Eurex to restart the Lending CCP

Key takeaways from RMA’s 2022 securities lending conference

Who is really the biggest prime broker?

Federal Reserve eyes balance sheet flexibility for banks – is a return to the UST exemption on the table?

Beneficial owners say that agent lender ESG tools are delivering real value

Getting ready for Rates & Repo on November 2-3, 2022

Gilt collateral is operationally intense but orderly this week, say market participants

Videos: hear from market leaders at EquiLend, FIS and Transcend on Data and Digitization

RRP use tears upwards – what will break the trend?

In Europe, capping agency lending fees at 10% would be the wrong choice

Finadium: OTC equity derivatives database; client webinar on using Finadium databases

Finadium: Equity Prime Brokerage Revenues from Synthetic and Physical Financing

The SEC’s UST repo clearing proposal suggests winners and losers

What we learned at our Data and Digitization in SecFinance event last week

Revenues and Policy Choices for US Mutual Funds in Securities Lending

Since July 2022, DLR Total Return Swap positions look to be in the money by 50%-80%

CCP collateral at the centre of energy crisis in Europe