Last July marked the fourth anniversary of the passage and signing of the Dodd-Frank Act, so it is appropriate to reflect on the two sections of the DFA most of interest to OTC Space readers, Title VII on derivatives, and Section 619, the Volcker Rule.
Examining industry attitudes towards changes in clearing, Sapient Global Markets’ latest survey reveals three significant themes: regulatory uncertainty, the cost of clearing operations and implementing suitable technology. To relieve some of these pressures, more than half of those surveyed also indicated positive interest in the establishment of purpose-built market utilities. Download your copy to find out more.
SS&C GlobeOp has been a provider of processing services for OTC products for 15 years. I met with Tom Kirkpatrick and Alexandra Gillespie to discuss how they faced the challenge of regulatory change with the added pressure of many clients relying upon them to update their processing platform to support their requirements.
The international Securities Lending Association, together with the Conference Advisory Group and this year's conference Co-Chairs Mark Whipple from Goldman Sachs and Philip Morgan from Nomura International have published the conference agenda for the 24th Annual Securities Finance and Collateral Management Conference.
Got your tickets for Deluge and Drought yet?
IOSCO have published their final document on the risk mitigation standards to be applied to non-cleared OTC derivatives, which can be found here.
Here are my latest securitization issuance charts for the United States and Europe. Shortly I hope to add Australia, Canada and Japan when the data becomes available.
The European Securities and Markets Authority (ESMA) has today published an Opinion on the Draft RTS on the Clearing Obligation on Interest Rate Swaps.
First big platform to announce coverage of the requirements for Dec 1st
Eurex Clearing has implemented documentation compatible with the market standard client clearing documents and has published UK and German Capital Requirements Regulation (CRR) opinions.
Regulators raised the need for cultural change in financial markets behaviour during the aftermath of the 2008 crash, however behaviour/conduct risk have long been an implicit part of financial institutions’ risk management programmes under Basle II and Basle III.
Maria points out a candidate for the longest single derivatives sentance award.
My interest in longevity risk transfer markets goes back to a 2006 International Monetary Fund (IMF) working paper on the limits of risk transfer markets, an April 2012 IMF Global Financial Stability Report (GFSR) chapter on longevity risk transfe
CFTC discussing margin rules reprieve with other US regulators
Bill: a 2nd clue that the Dec 1st date for the bilateral margin rules may move.
ESMA has today added Athens Exchange Clearing House to its list of authorised CCPs under the European Market Infrastructure Regulation (EMIR).