The European Parliament votes to move forward with changes to EMIR
Six months to comply for US regulated firms
When I first delved into EMIR back in 2012, the importance of ‘equivalence’ didn’t even cross my mind, least of all how the global bit of all this OTC swap reform was going to play out.
Given the complexity of what had just landed in your lap, why would it?!
A year or so down the road, being older and wiser, the penny dropped about the global bitand I wrote about it in a blog in October 2013 that considered the true scale of global OTC swap reform.
The focus on clearing and risk management is creating an expanding need for mathematical models to calculate margin requirements in many contexts. In the exchange world SPAN has been the staple calculation method, and widely implemented by software vendors, whereas since the arrival of SwapClear and the global take up of central clearing, various variations of Value at Risk (VaR) have become necessary both for margin, capital and portfolio modelling reasons.
“Haven’t we finished EMIR?”, “I mean, 2012, that stuff is 3 years old right?”
Calypso Interfaces To DTCC GTR For Emir Reporting
Calypso Technology Inc., has announced the release of an interface to the DTCC’s Global Trade Repository service (GTR) for EMIR (European Markets Infrastructure Regulation) reporting. ISS-MAG: Calypso Interfaces To DTCC GTR For Emir Reporting.