It goes without saying, I suppose, that financial markets regulation has always been something of a conundrum – the markets have always been global, to a greater or lesser degree, and regulations have always been national or regional. But it does seem that today more than ever the problem is exacerbated. After the financial panic of 2008-09, every regulator and every government seemed to embark on a market reregulation binge, and managed to do it without much regard for what everyone else was doing.
The first meeting has now been scheduled and members of the email list informed, find out how to participate here.
Changes in the leadership team and an investment
Capital is a serious issue, or at least its preservation is. The crisis of ‘07/’08 exposed the financial services industry to tremendous losses to the extent that companies went bust, were taken over or bailed out by government. Ensuing inquiries concluded that excessive levels of risk had been taken in search of reward and that the risk takers were inadequately protected in terms of capital and provided for in terms of liquidity.
Securities financing transactions (SFTs) can contribute to leverage in the financial system. One of the main issues related to leverage is procyclicality, which can manifest itself in many different ways and can incorporate risks for financial stability.
With increasing regularity, I’m hearing more and more banks saying that they are faced with having to do more with less - almost a mantra for our times.
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This has to be one of my favourite articles I've seen for a long time - read the story at ClarusFT (link below), removing EUR from SwapClear has a surprising result, but moving EUR on-shore is a shocker. Bill.
This new information changes the timeline we published previously, see the commentary below from DRS and be prepared for sudden change.
Those in the financial sector have become used to regulatory change over many years, with the recent ‘phase’ arising from the events of 2007 and 2008 not necessarily representing something new, but rather an increase in tempo, albeit a rather significant one.
I wish Millennium and LSEG luck, in what will be the mother of all clearing projects.
A new startup plans to revolutionise the banking industry by replacing CCPs in their entirety
Unlimited trading counterparts and “sources of liquidity”; quite a stark contrast from legacy OTC derivative market infrastructure.
The consultation below is the first stage of moving Europe towards having the equivalent of the US SEFs, under MiFIR.
ISDA sets out the case for a stronger cross-industry response to change | The OTC Space Calls For Industry Captains to Join A Discussion Forum
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The SmartDX 360 EMEA 2016 event is an exclusive gathering that will provide insightful discussions, presentations and knowledge sharing on the SmartDX solution.
Ever since the dramatic banking collapse in 2008 Regulators and Central Banks have been pre-occupied with finding the magic bullet that prevents another systematic financial crisis arising in the future.