BNP Paribas Securities Services, the custody and fund administration arm of the French bank, has launched a tri-party collateral management service. In a market dominated for 20 years in Europe by Clearstream and Euroclear, and in the United States for even longer by BNY Mellon and J.P. Morgan Chase, it is bold move. So why make it?
Bill: I took a look at this first release on the CDM and took a while to let the ideas soak in.
For people familiar with the Murex platform, I believe this announcement now means you no longer have to install Murex on your own servers locally, you could run a derivatives business largely in the cloud.
There’s been a lot of recent focus on the impact of Brexit on the derivatives market. That’s no surprise.
An important paper on the allocation of a Unqiue Product Identifier to all OTC derivatives products. A foundation on which regulatory reporting and statistical analysis would be greatly improved.
Bill: The post below starts to tackle the tricky puzzle of breaking out the total IM for a portfolio into the contribution by particular products or desks.
An interesting viewpoint from staff at the Bank of England on the implications of margin on un-cleared portfolios and why achieving risk reduction benefits is all in the details.
RegTek.Solutions has launched a Vimeo channel featuring interviews and content specific to our niche of Regulatory Trade and Transaction Reporting.
A new ISDA survey explain the flows of margin for cleared and uncleared OTC products
As of January CME had $66bn of notional in cleared OTC credit products compared with ICE with a combined total of $1.5trn. The only other firms to offer clearing for OTC credit are LCH and JSCC with $42bn and $8bn respectively. Bill.
2017 has been difficult for those at Goldman Sachs who are accustomed to being at the forefront of US trading firms.
Updated ISDA SIMM model coming later this year
Deutsche Börse and Illuminate Financial Management LLP have co-led in a US$5 million Series A funding round in RegTek.Solutions Inc., a leading multi-jurisdiction regulatory reporting solutions provider.
The most recent edition of the Journal of Securities Operations & Custody (Volume 9 Number 4) features an article by Lloyd Altman entitled “What a year: MiFID II/MiFIR, EMIR RTS, SFTR and SEC SBS”.
The annual Bürgenstock meeting in 2017 is a three day event run by ICDA, the second oldest futures industry association in the world. OTC Space Registered Readers can access a 15% discount to this event.
Six months ago, the industry was facing the possibility of real disruption.