January 2017

'Articles' Ten Commandments for Achieving Operational Excellence for Hedge Funds & Asset Managers 09 January 2017 | Frank Caccio

Over the past 20 years the investment management industry, and specifically hedge funds, has achieved tremendous growth. As assets under management increased, so did diversification in strategies and investments. During that time investors have become very sophisticated in their selection of investments as well as the operational due diligence process. This growth and sophistication has reinforced the critical role of operational executives, and their teams’ responsibility to effectively manage the operational infrastructure. These are the people, functions and technology that are an integral part of keeping these firms thriving.

'Articles' Systemic risks in CCP networks 05 January 2017 | Risk Magazine Feed

We propose a model for the credit and liquidity risks faced by clearing members of Central Counterparty Clearing houses (CCPs). This model aims to capture the features of: gap risk; feedback between clearing member default, market volatility and margining requirements; the different risks faced by various types of market participant and the changes in margining re- quirements a clearing member faces as the system evolves. By considering the entire network of CCPs and clearing members, we investigate the distribution of losses to default fund con- tributions and contingent liquidity requirements for each clearing member; further, we identify wrong-way risks between defaults of clearing members and market turbulence.

'News' Post Trade Forum Meeting 2 – Trade Reporting – Feb 16th 04 January 2017 | The Post Trade Forum Feed

The second most important topic to PTF survey respondents was trade reporting and we are pleased to announce the next working group for the Post Trade Forum on this exact topic.

'News' Riskfocus Validator Intro Video 03 January 2017 | Lloyd Altman

Firms use Validate.Trade to test reporting software to reduce the cost and risk of change to pre-validate trade reports before they fail at the ARM, TR or SDR resulting in better control and compliance!

'Articles' Most Read: November & December 2016 03 January 2017 | Samantha Hodgson

Users have been voting with their clicks as to the most interesting articles, and we've developed a list to show you which 30 articles have been the most popular. This list is as-of January 1st, and shows our all time most viewed articles. We've also provided a list of our most popular articles in November & December 2016, and will continue to update these lists.

'News' What does 2017 have in store for us? 03 January 2017 | Energy Trading Regulation Feed

For many, today is the first working day of 2017, which is also the original start date of MiFID II, before it was delayed by a year. With an eventful year behind us, what can we expect in the coming months, both on paper and in reality?

December 2016

'News' Thank You And See You in 2017 23 December 2016 | Bill Hodgson

Thank you to our readers, contributors and sponsors during 2016.

'Articles' The Bank Underground Christmas Quiz 21 December 2016 | Bank Underground Feed

Bank Underground is about to take a hard-earned festive break.  But before the blog goes off on its Christmas holidays, it’s time for the now annual tradition of the Bank Underground Christmas Quiz.  Test your knowledge on our ten festive themed q

'Articles' Monitoring CCP Systemic Risk in Real Time 15 December 2016 | Albert Menkveld Feed

CCPs were recently introduced for standard derivatives to remove counter-party risk from trades. Should the buyer or seller default, then the CCP will take over his trade commitment. CCPs thus effectively insure counter-party risk. Traders are therefore expected to continue to trade at times of elevated counter-party risk. A liquidity dry-up is thus avoided and, with it, the potential for an all-out crisis.

'Articles' Why FCMs Don’t Like Intraday Margin Calls 14 December 2016 | ClarusFT Feed

Bill: The ClarusFT article covers the fine detail of intra-day topups to SwapClear and why timing changes were necessary. If you have never looked at the detail of intraday margin calls then this is the article to read.

'Articles' Impact of MiFID II on the Buy Side – Andy Green in TheTradeNews 09 December 2016 | RegTek.Solutions Feed

The December 8, 2016 Article in TheTradeNews entitled “Out Of The Shadows” keys in on the impact of MiFD II reporting that will be felt by Buy Side firms that have been reliant on Delegated Reporting under EMIR.

'Articles' Cross-border Overreach 07 December 2016 | ISDA Feed

Those of you who have come to an ISDA conference, read our comment letters or, indeed, read this blog over the past several years know that cross-border harmonization matters a lot to us and our members.

'Articles' ISDA SIMM™ IM Comparisons 06 December 2016 | ClarusFT Feed

Clarus tools calculate margin under LCH, CME and ISDA SIMM™. It is a natural question to compare the three models. There are interesting differences across currencies and tenors. We find that SIMM is up to 37% higher than at a CCP. At last….!

'News' Message Automation (MA) expands connectivity suite with South African Partner 01 December 2016 | Hugh Daly

MessageAutomation grows their engagement with Andile in South Africa.

November 2016

'Articles' Screwdriver, Not Sledgehammer 30 November 2016 | ISDA Feed

Build a car engine from scratch, and it’s a fair bet that it won’t be purring the first time it’s switched on. That doesn’t mean the engineer has failed, and it doesn’t mean the whole thing needs to be smashed up.