Derivatives trading bodies are pushing for US agencies to ease rules on how client cash margin held by banks is calculated as part of their capital exposures.
The head of the CFTC intends to ease rules on swaps trading and bank capital rules.
Banks are looking at alternatives to repo for short-term financing in response to stricter capital requirements.
Banks are estimated to spend more than $200 million to implement the new capital requirements.
Capital pressures have seen some European clearing banks unwinding positions and retreating from the business.
Research from TABB Group estimates FCMs could record around $4.5 billion in 2016 from derivatives clearing.
Non-bank firms have a huge potential to fill the void in clearing, but the realities of doing so could be easier said than done.
The move to withdraw from GCF repo settlement will affect around 30 broker-dealer clients.
Bank's are facing intense pressure from the capital rules within their derivatives clearing business.