IDX Capital is a fast growing Inter-Dealer Broker (IDB) of Credit Default Swaps (CDS) operating in the over the counter market and catering to the world's premier financial institutions. IDX currently services the New York market place with plans to expand into the European and Asian Markets. IDX is licensed by the FINRA through its subsidiary to act as an agent - matching market dealers in the wholesale market - for a fee. http://www.idxcap.com Derivatives industry veteran, Jamie Cawley, comments on pending regulatory reform and remaining levels of credit counterparty risk in the financial markets. http://www.idxcap.com/IDX_NewsDetail.asp?id=174 IDX CEO Cawley, appearing on a Financial Technologies Forum panel today in New York City, discusses the economics of novating existing CDS trades into a central clearinghouse. http://www.idxcap.com/IDX_NewsDetail.asp?id=171 IDX's Jamie Cawley discusses clearinghouse fungibility and the likelihood the market supports multiple platforms. http://www.idxcap.com/IDX_NewsDetail.asp?id=172 "There is a necessity to mitigate the systemic risk inherent in a bilateral world of CDS contracts and therefore move them into a centrally cleared environment," said Jamie Cawley, chief executive at interdealer CDS broker IDX Capital in New York. http://www.idxcap.com/IDX_NewsDetail.asp?id=170 New proposals to regulate the $450 trillion privately-traded global derivatives markets, unveiled by the Obama administration on Wednesday, are designed to remove the risks of another global financial crisis. http://www.idxcap.com/IDX_NewsDetail.asp?id=161 Speculation has been growing about the details in the Obama administration's financial reform plan ahead of its announcement today. At the same time, however, issues at the two leading US CDS central counterparties could hold back progress. http://www.idxcap.com/IDX_NewsDetail.asp?id=160 In the wake of U.S. Treasury Secretary Timothy Geithner's call last week to introduce sweeping regulations on over-the-counter derivatives (DW Online, 3/13), market participants are concerned about the lack of clarity over which agency will lead the charge. http://www.idxcap.com/IDX_NewsDetail.asp?id=159 Q: How and when did IDX Capital become involved in the structured credit market? A: My background is in sales and trading, having worked in corporate bonds http://www.idxcap.com/IDX_NewsDetail.asp?id=155 Market participants were last week asked by the New York Fed to broaden the remit of CDS central counterparties to include a wider set of firms and credit derivative products (see News Round-up). They also agreed to report all CDS trades not cleared through a CCP to a central trade repository. However, significant challenges remain for buy-siders looking to clear their CDS trades via a CCP. http://www.idxcap.com/IDX_NewsDetail.asp?id=152 NEW YORK -- U.S. credit default swap trading volumes were robust on Wednesday, easing concerns that an array of changes in pricing conventions and contract terms could dry up liquidity or bifurcate the market, traders said. http://www.idxcap.com/IDX_NewsDetail.asp?id=153 NEW YORK -- The "Big Bang" - the sensational nickname for a number of changes to the way credit default swaps are structured, settled and netted - goes off tomorrow. The point of this ISDA-led initiative is to minimize risk and prevent AIG-style CDS crises in the future. http://www.idxcap.com/IDX_NewsDetail.asp?id=154 NEW YORK, March 26 (Reuters) - The U.S. Treasury's plan to tighten up on derivatives such as credit default swaps -- effectively throwing its weight behind a shift well under way among exchanges and financial players -- was applauded as long overdue on Thursday by industry observers. http://www.idxcap.com/IDX_NewsDetail.asp?id=149 The Obama administration's aggressive plan for strict scrutiny of hedge funds and other freewheeling investors, part of the biggest expansion of financial restraints since the Great Depression, is drawing instant opposition from Republican lawmakers and the rules' targets. And skeptics are questioning whether the new rulebook would work anyway. http://www.idxcap.com/IDX_NewsDetail.asp?id=151 IDX Capital, an electronic credit derivatives interdealer broker, is looking to hire two managing directors for its investment-grade credit default swap desk and one associate for high yield CDS. "We're shooting for a May 1 start date [for the hires]," said Jamie Cawley, CEO in New York. All the positions are new. http://www.idxcap.com/IDX_NewsDetail.asp?id=148 With and hedge fund manager Citadel Investments receiving final regulatory approval from the Securities and Exchange Commission (SEC) last Friday to clear credit default swaps (CDS) through their joint venture CMDX platform, the business of central counterparty (CCP) clearinghouses is in full swing. http://www.idxcap.com/IDX_NewsDetail.asp?id=145 http://www.idxcap.com/IDX_NewsDetail.asp?id=147 In September 2005, Timothy Geithner, the incoming U.S. Treasury secretary who was then president of the Federal Reserve Bank of New York, sounded an alarm on credit default swaps. Concerned about counterparty risk, he called a meeting of top Wall Street bank executives and insisted that they adopt new systems and procedures to clear away a mounting backlog of unconfirmed CDS trades. http://www.idxcap.com/IDX_NewsDetail.asp?id=126 NEW YORK - Exchange trading is being pitched by many as the solution to bringing transparency, governance, and a limit to potential abuse in the $47 trillion credit derivatives market. http://www.idxcap.com/IDX_NewsDetail.asp?id=142 NEW YORK -- The Securities and Exchange Commission has sent subpoenas to interdealer credit derivative brokers relating to the trading of credit default swaps on financial companies in September, sources said. http://www.idxcap.com/IDX_NewsDetail.asp?id=114 http://www.idxcap.com/IDX_NewsDetail.asp?id=110 Federal regulators are expected to release a memorandum of understanding as early as Friday outlining their plans to share information about the credit default swap market, according to a person close to the situation. http://www.idxcap.com/IDX_NewsDetail.asp?id=109 Big banks could lose a sizable source of revenue, while exchange operators could stand to benefit from the burgeoning efforts to create a public, transparent marketplace for unregulated derivates. http://www.idxcap.com/IDX_NewsDetail.asp?id=108 There seems little doubt tighter regulation of esoteric financial derivatives that have played a major role in the financial crisis is on the way, but one influential lawmaker is weighing a more drastic measure: banning them outright. http://www.idxcap.com/IDX_NewsDetail.asp?id=125 http://www.idxcap.com/IDX_NewsDetail.asp?id=115 If Hieronymus Bosch were alive today to paint a triptych called "The Garden of Mortgage Delights," we'd recognize most of the characters in the bacchanalia and its hellish aftermath. Looming largest, of course, would be the Luciferian figures of Greed and Excessive Debt. http://www.idxcap.com/IDX_NewsDetail.asp?id=112 IRELAND - In the wake of the collapse of Lehman Brothers and the bailout of AIG, the mood is tense among the capitalist classes on Wall Street as they wait to see which dominoes fall next. http://www.idxcap.com/IDX_NewsDetail.asp?id=107 http://www.idxcap.com/IDX_NewsDetail.asp?id=106 PARIS: Just over 100 years ago, J.P. Morgan gathered his fellow financiers at his Manhattan mansion amid growing financial panic and declared, "This is where the trouble stops." http://www.idxcap.com/IDX_NewsDetail.asp?id=105 PARIS -- Just over 100 years ago, J. P. Morgan gathered his fellow financiers at his Manhattan mansion amid growing financial panic and declared, "This is where the trouble stops." http://www.idxcap.com/IDX_NewsDetail.asp?id=134 Amid all the debate about the long-term impact of an $85 billion federal loan to American International Group (AIG), one thing is clear: The world's most sophisticated insurer proved to be far from adept at managing its own risk. Despite $110 billion in annual sales and assets in excess of $1 trillion, AIG stood at the brink of bankruptcy on Sept. 16. http://www.idxcap.com/IDX_NewsDetail.asp?id=120 Two rival groups of banks are working towards establishing interdealer broker firms in interest rate and credit derivatives, as part of their efforts to cut trading costs and take control of market infrastructure. http://www.idxcap.com/IDX_NewsDetail.asp?id=138 LONDON -- Investment banks are looking at setting up their own interdealer broking systems to rival the likes of Icap and Tullett Prebon in the interest rates and credit derivatives markets. http://www.idxcap.com/IDX_NewsDetail.asp?id=128