Market structure happenings have been fast and furious since 2009, and 2014 did not disappoint. Mandatory SEF trading finally began, fixed income electronic trading continued its steady incline, the current shape of the US equity market was once
Derivatives end users are concerned about the impact of new margin requirements for non-cleared derivatives, with a large number unsure whether they will even have to comply with the rules, according to new survey published today by the International Swaps and Derivatives Association, Inc. (ISDA).
Following-on in our monthly review series, let’s take a look at how volumes developed during the month of December. The results are quite surprising in the end. USD IRS On-SEF From our October review, we know that October 2014 was…
For many, today is the first working day of 2015. In our world of commodity and energy trading regulation, we are likely to have a busy year. Here we will focus on what could hit us in Europe:
31 December 2014! (Bill, my fault, it's now 1st Jan) I can't believe we have reached year end, time really flew this year!!
The first clearing obligations are already in place in the US and Japan, and the European Union is now set to follow with its first mandates next year.
Almost three months after ESMA published the final draft RTS on Clearing Interest Rate Swaps (IRS) under EMIR, the clearing landscape starts getting clearer. Clearing could be the most complex regulatory obligation under EMIR so far.
The FCA will regulate seven additional major UK-based financial benchmarks in the fixed income, commodity and currency markets from 1 April 2015.
The focus has now shifted:
The European Securities and Markets Authority (ESMA) has published today its final technical advice (TA) and launches a consultation on its draft regulatory technical and implementing standards (RTS/ ITS) regarding the implementation of the Market
You need to read this letter carefully as it contains significant changes to the timing of frontloading, and also an exemption for intragroup (affiliate trades).
Life for “small AIFMs”  will change in a big way on 1 April 2015 and, despite the date, it’s no joke… In Policy Statement 13/5, the FCA made certain amendments to its client assets (CASS) rules in order to ensure that they remained consistent w
With the regulatory pressure to clear as much OTC business as possible, and the increased focus on increased amounts of capital and margin, it isn’t surprising that the Collateral Management function is far more visible in all organisations. This article discusses the idea that Collateral Management (CM) is now a front office function, or maybe not.
The children of the staff at Keler in Hungary have done their best work to entertain everyone this Christmas.
Bill: An interesting commentary on the Investment Management business.
Articles and reports on collateral management tend to focus on the high-level application of technology and the money to be made (or not lost) from collateral optimization.
About a month ago I was at a conference and heard folks mention OTC clearing volumes, and my curiosity got the best of me: Who is clearing what, and how much is going through each venue? So I began pulling clearing data…
When I was in my twenties, I worked on a film being shot location in the London borough of Newham.