OTC clearing business may face the chop pending review
Leading regulators, legislators, derivatives market participants, technology and resource providers met in Montreal this week at the International Swaps and Derivatives Association’s (ISDA) 30th Annual General Meeting (AGM).
When the new derivatives rules established trade reporting as one of the key goals, regulators assumed that this would unlock the door to market transparency and the ability to monitor systemic risk. While much progress has been made, as trades flow into the trade repositories, it is widely acknowledged that attention must now focus on data integrity.
ESMA (the European Securities and Markets Authority) is slowly moving forward in its attempts to reform and regulate the financial markets - the way Dodd-Frank has done here in the U.S. ESMA published a consultation paper and proposed regulatory technical standards regarding amendments to MiFID II (Markets in Financial Instruments Directive) and MiFIR (Markets in Financial Instruments Regulation).
This afternoon event is for back-office executives from across the European derivatives market who are looking to increase their knowledge and understanding of post trade and collateral management issues affecting our industry today. As the market changes under the pressure of regulatory reform and the opportunities and efficiencies offered by automation, this event will provide an overview of the latest thinking on this crucial part of the trade cycle.
During this event – following in the footsteps of our renowned Risk Management Series – the participants will hear about the updates and reviews on regulations and other frameworks such as IFSR 9, SSM, Basel III, Basel IV, SA-CCR, CEM, JQIS, LGD monitoring, PD term-structure, NPL portfolios, CvaR, RWA, Stress-tests, CVA and xVA Framework, and many more, gain insight to Credit Risk Modeling, Validation, and Counterparty Credit Risk furthermore they can also build long lasting business relationships with the representatives of the most significant financial institutions of Europe.
Bill: If you visit the JDX stand, you can get a copy of the latest edition 3 of Rocket Magazine, along with their exciting goody bag.
Before the Volcker Rule was finalised on December 2013, a number of foreign banks operating in the U.S. held derisive attitudes toward American regulators. According to a number of bank regulators, European banks were particularly prone to dismissing the importance of U.S. bank rules since they were regulated by their home countries.
We are searching for a highly skilled compliance professional, with financial services experience. A professional with experience working with EMIR regulations and reporting to regulatory authorities. If this is you, read on - this could be the opportunity for you.
Eurelectric have recently written this letter to the European Commission, which makes recommendations on how certain aspects of MiFID II’s Regulatory Technical Standards (RTS) could be changed to lower the potential impact on the energy industry.
Achieving capital efficiencies in today’s financial markets is crucial as participants look for ways to do more with less. So far this has largely related to margin levels, whether through portfolio margin across OTC and exchange-traded products or net margining across multiple asset classes. However, regulations will harmonise margin levels so participants will be on the hunt for other ways to make the best use of capital.
You’ve had a range of different jobs.
After the 2008 financial crisis, more emphasis was given to OTC Derivatives market in order to make it more transparent and fail proof. To achieve the same, new laws and regulations were introduced and implemented in various parts of the world.
Cross-border fragmentation is one of biggest concerns for ISDA and its members.
Clearing Houses are a huge concern among the largest banks in Europe and America having been deemed "too big to fail" by The Financial Times since the Clearing Houses became risk managers for global markets in the post 2007-crisis era. Leading up to Risk EMEA 2015, CFP spoke to Ricky Maloney, Buy Side Sales and Relations Manager, Eurex and Nick Chaudhry, Head of OTC Clearing, Commerzbank about the evolving concerns.