Time has a habit of marching relentlessly on, and revised compliance dates for counterparties to make changes to their collateral document
Elena Gaetini, a panelist at “The Future Of Post-Trade” event on May 22, 2017, was interviewed regarding the looming November 1 deadline for compliance with ESMA’s RTS for EMIR Article 9 Transaction Reporting.
The new Variation Margin regulations impact all financial entities as well as systemically important non-financial entities that deal in uncleared OTC trades. This means that from March onwards, all new trades will need to be captured under a collateral agreement and margined daily with collateral posted to cover the MTM movements. Whilst this may sound simple in principle to achieve, entering into a collateral agreement is no simple task.
Explore important political and regulatory topics that are shaping the cleared derivatives markets in Europe and beyond from Brexit to regulatory reform in the United States.
RegTek.Solutions is proud to add UBS into its group of Global Swaps Dealers that license Validate.Trade for Trade Reporting Data Quality Surveillance.
The global financial crisis highlighted the importance of liquidity in functioning financial markets. Pre-2008, market participants received easy access to readily available funding and were ill-prepared for events that transpired during the credit crisis. Failure to adequately assess and manage liquidity underpinned major market turmoil, triggering unprecedented liquidity events and the ultimate demise of Bear Stearns, Lehman Brothers and other financial institutions previously thought too big to fail.
Many firms need to create or modify ISDA CSA agreements to achieve compliance around the world with the Uncleared Margin Regulations (UMR). This survey will give you an insight into what other firms are doing to become compliant. We will reveal the results live at a webinar and explain the options for carrying out the repapering and implementing your agreements.
Banks and other financial institutions that use derivatives as investments or to hedge risk need to get ready, otherwise they are heading for a $13 billion headache as new collateral and margin requirements continue to be phased in later this year.
The OTC Derivatives Summit of the Global Fixed Income Institute is an annual event which has now been running for over ten years. Those in the know refer to the Summit informally as the Pennyhill Park event – where a group of the most senior buy- and sell-side individuals debate (in private) the latest challenges running an OTC derivatives business.
On the 30th of March Razor Risk broadcast a webinar explaining the background to FRTB, the timeline for readiness, and showed a live demo of our platform
In 2009, a new international consensus was formed when the G-20 met in Pittsburgh. International leaders agreed that transparency and oversight of the OTC derivatives market was key to international financial stability.
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; and not coincidentally, annualized U.S. GDP growth above 3%.
EMIR RTS Changes on 1st November: will you be ready?
RegTek.Solutions announces service that ensures you will be
3 May 2017, New York & London:
Join with other respondants on the new and improved industry margin survey. Find out what other firms are doing to complete re-papering, and how they are implementing agreements. Instant results once you click Submit.
Swap execution facilities (“SEFs”) could provide an invaluable platform for creative disruption in the derivatives market! The format needs some modification to give entrepreneurial innovation room to breathe. As all parts of the US financial services regulatory system undertake a review of the effectiveness and appropriateness of current regulation I shared my observations on implementing the Dodd-Frank rules for (“SEF”) with the Commodity Futures Trading Commission (“Commission”). I recommended that the Commission consider permanently establishing a “lighter touch” temporary registration which would include several meaningful modifications to its current Rules which if implemented will foster – or at least not discourage – marketplace innovation.
January shed some light on the European regulatory reporting timelines but provided a mixture of both relief and pressure.
Sebastian J A de-Ramon, William Francis and Qun Harris
The jump of $150bn at ForexClear is believed to be from the introduction of margining for FX products, a sudden enthusiam to clear them. Shanghai CCP are doing well with OTC rate swaps having added $306bn of notional. Both JSCC and LCH actively use compression methods to eliminate notional hence the drops above. All units in millions of USD, so 1000 below means 1 billion of USD.
How much is it worth paying to restore trust in banks and financial markets? Well, I suppose you first have to establish how much trust in those institutions was lost as a result of the 2008 financial crisis.
Both the business and popular press have spent a lot of time and ink recently covering what appears to be a never-ending set of random changes in the financial markets.