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SSGA launches first actively managed corporate and municipal target maturity ETFs in the US

The TRADE

State Street Global Advisors (SSGA) has launched the first actively managed corporate and municipal target maturity bond ETFs in the US market. The suite consists of 14 actively managed target maturity ETFs with various maturity years ranging from 2026 to 2034.

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DTCC’s FICC launches new public-facing Value at Risk calculator

The TRADE

The calculator enables participants to evaluate potential margin and clearing fund obligations associated with becoming a member of DTCC’s Fixed Income Clearing Corporation (FICC) Government Securities Division (GSD).

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FRC publishes updated UK Corporate Governance Code and Guidance

Cleary M&A and Corporate Governance Watch

The Financial Reporting Council (FRC) has published an updated UK Corporate Governance Code (the Code), most of which will take effect from 1 January 2025. In addition, the FRC has published a summary of the principal changes to the Code , as well as a UK Corporate Governance Code 2024 mythbuster and a technical Q&A.

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A look into the centrally cleared future

The TRADE

These changes are designed to improve market stability, increase transparency, and mitigate systemic risks in bond markets, affecting everything from Treasury securities to corporate debt. Clearing obligations will become stricter, with enhanced oversight of margin requirements and risk management processes.

Trading 59
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US same day settlement ‘not a good idea’ despite technological advancement

The TRADE

Repo trades are, by definition, short term, so they carry less counterparty risk than swaps, but the market’s importance is so great that streamlining the plumbing via central clearing is generally supported by most market participants,” said Coalition Greenwich. to just over £2.6 asset-backed securities)”.

Trading 72
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DTCC’s FICC bolsters VaR calculator capabilities ahead of US Treasury clearing requirements

The TRADE

The Depository Trust & Clearing Corporation (DTCC) has launched enhancements to its Value at Risk (VaR) calculator, adding cross-margining and repo transaction functionalities. The updated risk tools seek to support firms as they prepare for the expansion of US Treasury clearing in 2025 and 2026.