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Time has come to move on to EMIR Trade Reporting - Part 2 (EMIR Trade Reporting Part 1 is here).
As 2013 draws to a close, I summarise the major changes in what has been a momentous year in the Swap Market.
Technology Complexity: An Early-Warning System to Prevent Costly Fails
If you were short of data on the OTC market, the CFTC will satisfy your needs from now on. Their new Weekly Swaps Report aggregates data from ICE, CME and DTCC to provide a snapshot of the cleared and un-cleared OTC market.
Henner Brüner is a Consultant in Capco’s Capital Markets Frankfurt practice, he explains why "quad party" or "physical segregation" is desirable for buy-side clearing clients but complex and costly to implement.
This Risk article (subs.) lays out in more clarity the Volcker rule impacts and in particular market-making and CVA trading. Given the rule runs to 900 or so pages, no doubt there are more unintended consequences, buried footnotes and hidden gotchas to crawl from the woodwork as we proceed towards compliance in July 2015 (with full compliance possibly phased through July 2017). For now though in outline this is starting to make sense.
My interest in writing this article was sparked by the 11 December press release from TrueEx announcing t
According to this IFR story, BoNY Mellon has cut its OTC clearing b
There are two Japan-related CFTC no action relief (NAR) deadlines approaching:
On November 7th ESMA authorized four Trade Repositories to offer their services to Europe's entities and ESMA's updated version of EMIR implementation timeline showed the 12th of February as the start date for trade reporting, for all derivative a
On 1 September, ESMA issued its advice to the Commission on declaring countries o
Chairman Gensler recently pushed out guidance that trades booked between two non-US person entities but arranged, negotiated or executed by US personnel would be subject to CFTC regulations (as well as of course being subject to local regulations
Stewart Macbeth has many talents, he appears to have propelled the dance team at DTCC to new heights with 7 gold medals.
CME in a recent SEC filing noted that it plans to offer clearing for MXN
As a result of some CFTC dialogue and comment letters on the topic, we seem to be homing in on consensus around LIBOR only spot-starting and MAC/IMM swaps.
Re-submitted MAT letters