The only way cost is going for OTC products is up - and the result will see structural changes to the firms operating in the OTC market.
The Bank of England have published a study into the way IM models work when reacting to stressed market conditions, comparing models such as VaR, Historic Simular VaR and HSVaR with an Exponentially Weighted Moving Average (EWMA) filter.
The International Swaps and Derivatives Association, Inc.
There has been some confusion recently over Funding Value Adjustment (FVA).
Sapient Global Markets' annual Glossary of Financial Terms is one of the industry's most comprehensive guides to the latest terminology for capital and commodities markets.
I had to post this photo - it's the second Shield Bug I've got a good photo of - those of you who've received a business card from me may have seen the other, a green variety on an Echinacea.
LSE Group moving into Swap Futures?
CFTC unveiled its approach to removal of the package trade exemptive relief on the SEF MAT obligation. The short term focus is on MAT swap vs mandated cleared swap package and swap spreads vs US Treasuries.
Front-loading, the obigation to move trades into clearing retrospectively is a major problem for pricing OTC trades. ESMA has written a letter / proposal to the European Commission to try and defuse this unexpected consequence of EMIR.
A speech by Steven Maijoor, Chair, European Securities and Markets Authority comments on European Regulation and future challenges to market reform.
With cleared derivatives set to require between $0.5tn and $2.6tn of additional collateral, buy and sell side firms are increasingly looking for ways to lower their costs and monetise their collateral
Risk magazine sponsored by IBM conducted a global survey from 28 February until 27 March 20
Law firm A&O provide a range of free briefings, even with food and drink included, the schedule is over at http://www.aoseminars.com. In particular I spotted their next event on EMIR:
SwapClear have created a video explaining their five EMIR account models.
I am pleased to announce that, after a 12-year hiatus, the world’s leading risk management organizations will come together again on May 6, 2014.
It is now more than two months since European EMIR Trade Reporting came into operation, read our analysis of the results and what Scott O'Malia at the CFTC thinks about our article.
The trading of the basic commodities that are transformed into the foods we eat, the energy that fuels our transportation and heats and lights our homes, and the metals present in the objects we use in our daily lives is one of the oldest forms of economic activity. Yet commodity trading is widely misunderstood, and as a consequence, it is often the subject of controversy.