This September marked seven years since the symbolic gathering of world leaders at the G20 summit in Pittsburgh that would radically change the face of derivatives trading. As markets continued to reel from the Lehman Brothers collapse a year earlier, they outlined an edict that all standardised (where appropriate) over the counter (OTC) derivatives would be “cleared through central counterparties by end-2012 at the latest.” It also established that non-centrally cleared contracts should be subject to (…) mitigate(d) systemic risk”. In other words establish risk management processes when OTC products are not centrally cleared.
The European Securities and Markets Authority (ESMA) has issued today a report on Distributed Ledger Technology (DLT).
The deadline to be prepared to the March 1st Uncleared Margin regulation is looming. Our panel of experts will provide insight into the current state of preparations, including Heads of Legal from Standard Chartered and Societe Generale.
The European Securities and Markets Authority (ESMA) has published today the updated Questions and Answers
The European Securities and Markets Authority (ESMA) has issued today an update of its Q&A on pra
In January 2016, the Basel Committee on Banking Supervision published the final rules resulting from its Fundamental Review of the Trading Book (FRTB). The rules are due to come into effect at the end of 2019 and are encapsulated in BCBS 352, Minimum Capital Requirements for Market Risk.
The status of the NLX trading platform changes dramatically.
From March 1, thousands of financial institutions will find themselves subject to new rules that will require them to exchange variation margin on their non-cleared derivatives trades.
ESMA want your feedback on what you might characterise as a default management process for the voluntary or accidental withdrawal of a TR. How should your data get moved to another TR? What is the process?
We added a new feed from Norman Marks, a writer and expert on risk management. Look for his profile and click 'Follow' to get his stories on your home page.
LCH plan to provide trade sensitivities to AcadiaSoft to support reconciliation of disputes.
Across the banking industry, the combination of lawyers and technology hasn’t kept pace with automation throughout the trade processing lifecycle. One area that has resisted reform so far is the process of creating, revising and executing documents like the ISDA Master and CSAs, something that still relies upon Word and email.
It’s now less than a year until implementation of the revised Markets in Financial Instruments Directive (MIFID II), and European regulators are keen to nail down the last of the remaining policy details.
Following its adoption by the European Commission a few weeks ago(see here), the amended Regulatory technical Standard (RTS) on EMIR reporting has now been published in the Official Journal of the European Union, and can be found here.
Whilst the Obama Administration’s rally cry of ‘Hope and Change’ resonated with voters 8 years ago, it signaled the beginning of the end of the status quo throughout the banking and financial service industries; The arrival of Donald Trump may lead to an unwind of US regulation which the UK under Brexit can take advantage of.
Use the form within this page to request attendance at the forthcoming February 9th webinar on the state of bilateral margin negotiations and preparations.
By all accounts the March 1st uncleared margin deadline in is the largest contract renegotiation exercise event in the history of the world. And by other accounts may end being the mother of all disasters, or maybe not. Brendan Nelson and Barry Quinn from Axiom Law are going to entertain you with inside knowledge on the March 1st deadline.
2016 The Year of Big Change in Banking BY: AMBER BISSELL
Typically banks and financial institutions have, in times of mounting cost pressures, adopted a restructuring and redistribution of resources and processes globally to align with the business target operating model and strategic aims. Using a balanced combination of offshoring, nearshoring and outsourcing, referred to as “right-shoring”, businesses seek to achieve the optimum cost-effective, fully functional locational footprint.