October 2017

'Articles' Solvency, Prudence, Market Regulations 30 October 2017 | Fernando Walter Lolo

In February 2007 HSBC gave the first warnings from a major global bank of oncoming sub-prime mortgage losses. In March of the following year, Bear Stearns collapsed. The following September Lehman Brothers failed. The financial sector would never be the same again. 

'News' FCA fines Merrill Lynch £34.5 million for failing to report transactions 23 October 2017 | Financial Conduct Authority Feed

The fine was reduced from £49m as ML responded quickly to the issue. It appears their EMIR reporting approach for ETD didn't actually work or go-live from the start of EMIR reporting on 12th Feb 2014 until nearly 2 years later. Ouch - Bill.


Bill: an 8 hour video - can someone watch it and tell me the highlights? 

'Articles' BNP Paribas Securities Services launches tri-party collateral management service 18 October 2017 | Dominic Hobson

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?

'Articles' A First Step Towards the Future | The ISDA CDM Project 17 October 2017 | ISDA Feed

Bill: I took a look at this first release on the CDM and took a while to let the ideas soak in.

'Articles' Murex to Offer Cloud-Based Trading and Risk Management Solutions 17 October 2017 | Murex Feed

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.

'Articles' Brexit and Contractual Certainty 09 October 2017 | ISDA Feed

There’s been a lot of recent focus on the impact of Brexit on the derivatives market. That’s no surprise.

September 2017

'News' ESMA finalises MiFID II’s derivatives trading obligation 29 September 2017 | ESMA Feed

ESMA finalises MiFID II’s derivatives trading obligation

Friday 29 September 2017 10:59
'Articles' Initial Margin Attribution 27 September 2017 | ClarusFT Feed

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.

Cleared IM and VM 'News' ISDA MARGIN SURVEY 2017 18 September 2017 | Bill Hodgson

A new ISDA survey explain the flows of margin for cleared and uncleared OTC products

'Articles' CME Group to Exit OTC Credit Clearing Business, Return $650M in Capital to Clearing Members 14 September 2017 | CME Feed

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.

'News' ESMA updates Q&A on MiFID II implementation 12 September 2017 | ESMA Feed

ESMA updates Q&A on MiFID II implementation

Tuesday 12 September 2017 17:20
'Articles' What risk disclosures tell us about Goldman’s problems and Morgan Stanley’s success 08 September 2017 | Nick Dunbar Feed

2017 has been difficult for those at Goldman Sachs who are accustomed to being at the forefront of US trading firms.