It’ll probably come as no surprise that one of the major preoccupations for ISDA and many of its members over the past week has been the implementation of non-cleared margin requirements.
It was back in early February when the European Commission confirmed the introduction of MiFID II would be delayed a year, to January 2018. At that time, I recall a general feeling of relief from most financial institutions facing a huge upheaval to be compliant with the new directive.
The European regulatory process is a flowchart with many options and possible loops, the arrival of the regulations for uncleared OTC business. Follow this timeline and see when you think they will be published and fully effective.
The BIS published their trienniel survey today which shows a change in the balance of OTC business activity to the US from the UK:
This new and unique two day conference will provide delegates with a comprehensive understanding of central counterparty (CCP) clearing models and operational frameworks in the United States (U.S.). Registered OTC Space readers can access a 10% discount on registration.
It amuses me that the CFTC Commissioners publicly criticize their own organisation, on their own website. Sort of like kicking yourself up the backside shouting "idiots idiots" at the same time.
With today being the start of the new era of OTC business, the bilateral margin rules are now applicable in the US, Japan and Canada, you might like to learn more about the new margin platforms from our Breakfast Briefing we held earlier in the ye
All firms that participate in the Capital Markets Industry - from Banks, Fund Managers, Institutional Asset Managers, and Corporate Treasuries to Exchanges and Industry Utilities - need to stay abreast of existing and emerging regulations that dictate what, how, when, and where they need to report about their activity.
Your source for breaking news, valuable insights and innovative solutions for the listed derivatives and cleared swaps community. Over three days of engaging programming, you will connect with business leaders, industry stakeholders and top regulators.
In this webinar George is going to help you "Find Your Way Throught the MiFID / MAR Maze" as there are many obstacles to be navigated in configuring your OMS in the future.
Posted by Annette L. Nazareth, Davis Polk & Wardwell LLP, on Thursday, August 25, 2016
A wealth of statstics from the IMA about the ups and downs of sales and withdrawals from funds as of July 2016. Follow the link below for the full story.
As the margin requirements for non-centrally cleared OTC derivatives are close to being rolled out under a globally aligned timetable, the market is currently in a frenzy to be compliant in time. A documentation process is part of this preparation and this article provides an overview of all the ISDA WGMR documentary initiatives which have been up and running for a while and are now approaching completion.
This one came in with an unassuming title, but contains an entire list of regulations from ESMA with all the relevant dates on drafting and approval. Click the link below to get the PDF,
A consolidated view of the regulatory timelines for uncleared margin regulations
Introduction On 16 August 2016, ISDA published the “2016 Variation Margin Protocol” (the “VM Protocol”), designed to assist counterparties in amending CSA documentation so as to comply with Working Group on Margin Requirements (WGMR) rules as impl
A recent Office of Financial Research paper by Samim Ghamami and Paul Glasserman asks “Does OTC Derivatives Reform Incentivize Central Clearing?” Their answer is, probably not.
In this video of the webinar, originally broadcast on the 28th of June, our panel discusses the latest research into the effects of mandatory clearing and bilateral margining on your collateral management activity. This item is the full length composite version with all three parts.
The BIS are trying to invent a taxonomy to uniquely name OTC products, not a trivial undertaking, as the unqiueness is itself driven by the attributes of the product.
The latest CCP notional showing increases, decreases and new CCPs globally. New to this snapshot is ICE Futures in Europe and the US. The effects of trade compression in the OTC market can be seen along with competitive changes to some CCPs.