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John Lothian Newsletter: EU watchdog backs more competition in derivatives clearing; Derivative investors doubt benefits of LSE-Deutsche Börse tie-up; Oystacher Says Speed Chess, Not Spoofing, Is Behind His Trades John Lothian Newsletter,Newsletter

First Read Counter (party) intuitive Steven Strange, Compliance Product Manager, Fidessa Once upon a time, a good credit rating was sufficient to establish a counterparty’s fitness as a trading partner. Counterparties were managed via simple ‘do not trade’ lists delivered to traders at the start of the day, and traders honoured these by hand, or using basic software and home-grown tools. Times, of course, have changed drastically. Regulators now expect firms to aggregate their counterparty exposure across asset classes, and include a myriad of additional holdings where the counterparty is in any way affiliated. ‘Do not trade’ lists are monitored…