February 2014

'Articles' Bloomberg adds sponsored access - Agency Execution lift off? | FT article 13 February 2014 | Jon Skinner

Bloomberg's announcement Wednesday published in the FT(subs. required) that it is going to allow sponsored access into its SEF may be another key step in the emergence of agency execution as a new way for buy side firms to trade swaps.

'Jobs' Senior Project Manager – International Partnerships – Exclusive role 13 February 2014 | Bill Hodgson
£75,000 to £85,000
A leading market infrastructure firm has a lucrative opportunity to join their international projects team.
'Articles' A handy summary of SEF MAT scope / schedule 12 February 2014 | Jon Skinner

We now know nearly everything we need to know about the SEF go live schedule (apart from what the outcome will be on packaged trades).  Here's a handy summary.

'Articles' EMIR Trade Reporting | In Case of Emergency Break Glass 12 February 2014 | Bill Hodgson

If you are a firm who is not yet prepared for reporting all derivatives (that means ISDA OTC and Exchange Traded) to a Trade Repository, here's some emergency steps you can take:

'News' Clarus Financial Technology announces SEFView 11 February 2014 | Amir Khwaja

Chicago, February 11, 2014 – Clarus Financial Technology today announces the release of SEFView, its new service for tracking Swap Execution Facility (SEF) volumes.

'News' LCH.Clearnet and UnaVista Announce Readiness for EMIR Trade Reporting 11 February 2014 | Bill Hodgson

First CCP announces readiness for the start of EMIR Trade Reporting.

'News' CloudMargin Integrates with UnaVista for EMIR Trade Reporting 11 February 2014 | Andy Davies

State of the art collateral management systems delivering STP connectivity out of the box.

'News' Bank withdrawal drives investors from corporates to CDS indexes | FT article 10 February 2014 | Jon Skinner

Banks' withdrawal from principal market making is in turn driving investors from corporate bonds to CDS indices to trade or hedge credits

'News' Consultation Report on Credit Rating Agencies | IOSCO 10 February 2014 | Ben Larah

In a press release (PDF) announced today, IOSCO announced their publication of a consultation report on the Code of Conduct Fundamentals for Credit Rating Agencies (PDF).

'News' Clearing for IRDs Close to Complete | ISDA Research Note 07 February 2014 | Bill Hodgson

A research paper from ISDA here (http://www2.isda.org/functional-areas/research/research-notes/) explains how much progress has been made in clearing Interest Rate produc

'News' Site Updates 07 February 2014 | Bill Hodgson

Some updates to the site have taken place:

'News' New SwapsInfo Site from ISDA | More Charts Than You Can Handle 06 February 2014 | Bill Hodgson

ISDA have built their own charting and analysis site using the data from the DTCC SDR, an example is below and there is a regular blog with analysis of the market.

'News' Where can I find the list of OTC products subject to the SEF trading mandate? 06 February 2014 | Bill Hodgson

Over at the Swaps Report they have made it easy to figure out which products are mandated to be traded on a SEF in the US. At some point something similar may happen with OTFs in Europe.

'Jobs' Business Development Role | OpenGamma 05 February 2014 | Bill Hodgson

OpenGamma is the only next-generation risk technology company in the industry.

'Articles' SEF offshore push confirmed | ISDA analysis 03 February 2014 | Jon Skinner

ISDA backed up December survey opinon with a January cleared transaction volumes analysis to show that CFTC's SEF rules already shifted D2D IRS volume offshore from the US.

'News' Credit Derivatives Definitions Pushed Back Until September | ISDA 03 February 2014 | Ben Larah

In a press release published today, ISDA announced that the release of the 2014 Credit Derivatives Definitions will be pushed back until September 2014.

'Articles' A Guide to the EMIR Trade Reporting Obligations – Part 3 (the final countdown) 02 February 2014 | Maria Leontiou

I really can’t believe we are just a fortnight away from EMIR Reporting go-live date. It feels like time has flown since my last post on the 18th December on this very topic.

'News' Weekly CFTC OTC Market Report 02 February 2014 | Bill Hodgson

If you weren't aware, the CFTC now publish aggregate data based on the trade data submissions on OTC products to the DTCC, ICE and CME SDRs on a weekly basis.

'News' Thomas Krantz Takes a Pop at Clearing in the FT | Is He Right? 01 February 2014 | Bill Hodgson

In the FT Thomas Krantz formerly secretary-general of the World Federation of Exchanges, lists many questions about the wisdom of moving the OTC market into clearing, but poses questions that

January 2014

'Articles' CCPs Revise Margin Models | Esma 30 January 2014 | Ben Larah

According to a Risk Magazine article (subscription required), some European CCPs are revising their margin models in order to comply with Esma regulations regarding the effects of procyclicality on margin requirements.