TradeTech FX 2017

September 11-September 13, 2017

Fairmont Rey Juan Carlos, Barcelona

44 (0) 20 7368 9836

Paddy Boyle

Head of ForexClear
Paddy is the Head of LCH’s ForexClear service. Prior to joining LCH in 2016, he spent 16 years at Goldman Sachs, where he was a partner and Global Head of FX Options. He was a member of the Bank of England’s FX Joint Standing Committee from 2013 to early 2014. ForexClear was designed in consultation with members and customers to deliver the very best in risk and default management practices to the Foreign Exchange markets, and as the first global FX NDF clearing service it has now cleared over $11 trillion and 1.3 million trades.

Day 1 - Tuesday 12th September 2017

3:10 PM 360° Perspective: Variation margin and collateralisation rules - The buy and sell side impacts on execution, liquidity and the appetite for clearing, and has it reduced industry risk?

  • What impact have margin variation and collateralisation rules had on the buy side - do the benefits outweigh the additional costs?  Have the new requirements had the desired effects to make un-cleared transactions safe?
  • Was the industry caught off guard by the deadline of 1 March for collateralisation of NDFs and other non-spot FX instruments, and did trading desks feel that there was enough support from banks? 
  • How have the sell side been affected?  Has it had a deteriorating effect on liquidity? 
  • How has clearing affected the impact of new margin rules?
  • What have been and will be the result if firms can’t comply?
  • How can you ensure you have the additional capital and infrastructure required to make meet these daily margin calls?