FX Global Code: do you know what you’re signing up to?

Although the FX Global Code isn’t mandatory, many firms have already signed up. Increasingly it’s looking like becoming the industry norm. In the UK, the FCA has highlighted the code as a way to show compliance with proper standards of market conduct, so potentially an easy boost to a firm’s reputation. But the obligations it brings can be harder than you think. And control failings for those who’ve signed up could have the opposite effect on their industry standing.

The Volker Rule

An exploration of the potential modifications the OCC will make to the Volker Rule to reduce the burden on banks whilst still serving its original purpose. Actions may include:

  • Simplifying the Definition of Proprietary Trading
  • Reducing the Burden of Volcker Whilst Hedging Business Risks
  • Reducing the Burden of Compliance
  • Improving Regulatory Coordination
  • Providing Increased Flexibility for Market-Making
  • And more

Click below to read the full article.

The game changer for collateral management

Crisis always underscores the critical importance of collateral management – that was true in the LTCM (Long Term Capital Management) meltdown in 1998 and then again in the Lehman crisis in 2008 when collateral desks were crucial information vectors.

25Jun/Statement from Agustín Carstens, Chairman of the Global Economy Meeting, on the implications of the EU referendum in the United Kingdom

Statement from Agustín Carstens, Chairman of the Global Economy Meeting, on the implications of the EU referendum in the United Kingdom (25 June 2016)

The Day After Brexit

Posted by Alec J. Burnside, Cadwalader, Wickersham & Taft LLP, on Friday, June 24, 2016

Climbing the regulatory reporting mountain

In recent years, there has been an important increase in automation, especially in the post-trade side of OTC derivatives products. 

Mandatory electronic execution: what’s happening around the world?

Following the financial crisis in 2008, legislators and regulators around the world focused on reforming
the over-the-counter derivatives industry to reduce systemic risk, increase transparency, and improve market efficiency. In September 2009, the participants of the G20 Pittsburgh Summit had agreed that “all standardised OTC derivatives contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties”. In response, many jurisdictions have, or are putting in place, electronic trading mandates for over-the-counter derivatives.

What if the Doctors of OTC Derivatives themselves fall Sick?

After the 2008 financial crisis, more emphasis was given to OTC Derivatives market in order to make it more transparent and fail proof. To achieve the same, new laws and regulations were introduced and implemented in various parts of the world. One of the main requirements was central clearing of OTC Derivatives via CCPs. Though the objective was to avoid counterparty risk of default, no emphasis has been made till now to handle the situation if a clearing house itself defaults.

Centralised solutions for Reporting | ESMA

Here comes a press release from ESMA announcing the launch of centralised data projects for MiFIR and EMIR.

JP Morgan warns on swaps clearing

 Gordon McDermid: JP Morgan concludes on the uneconomic nature of client clearing in the current regulatory envrionment and warns of potential consequences