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.
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Some interesting responses to the idea of aggregating data into a central place from all the global trade repositories.
A Blackrock thought paper sets out their strong views on how CCPs should be positioned given their key role in the future market infrastructure.
The new Chairman of the CFTC is making a fast start in tackling the unintended systemic risk consequences of Dodd-Frank's Title VII derivatives rules. Could this avert a future FCM concentration risk crisis and enable legacy stockpiles of uncollateralized counterparty risk to be more easily reduced in response to the capital incentives? Let's hope so.
CME launches their DSF product within their European Entity and CCP.
The International Swaps and Derivatives Association, Inc. (ISDA) today released results from its 2014 ISDA Margin Survey at its 29th Annual General Meeting in Munich.