This Week's Top Stories

April 1 2021
Regulators and most market participants care about transparency, risk management and liquidity. The Archegos story is another example of why bilateral equity swaps, also called Total Return Swaps (TRS), are a subpar option when it comes to achieving these goals. The better choices are cash financing in the form of margin and securities loans, or cleared TRS. It’s long overdue that regulators fix this problem. 
 
March 31 2021
As the pace of digitization projects quicken in securities finance and collateral, we look at the arguments for and against the idea that more digitization means balance sheet savings. A fully digitized, one platform for globally netted settlements is possible in the end, and this has tangible benefits. The middle steps could be messy though.