Regulatory reforms following the financial crisis have tested banks’ ability to adapt and fundamentally changed business models. The Standard Initial Margin Model (SIMM) is another addition that could reshape many derivatives trading and risk management practices. In this article, Sapient Global Markets’ Thomas Schiebe and Sendi Cigura in partnership with Patrice Touraine and Matthieu Maurice of Global Market Solutions look at what it means for banks and how they must tackle a new wave of data and technology challenges.
Lee McCormack Head of Strategy and Product Development at CloudMargin has joined our panel for our webinar on Tuesday on "Uncleared Margin Reform, Ask Us Anything".
Razor Risk will also provide high level demonstrations of their “off the shelf” solution that will sit between existing Market Risk and Front Office pricing tools so that the firm can maintain BAU processes whilst preparing for the Fundamental changes that BCBS 352 will require. The Webinar is targeted at all involved stakeholders, bringing together the major drivers behind Business Users (Risk Managers), Front Office Capital Consumers, FRTB Programme Managers and Technology Implementation Teams whether the firm is going for a Standardised Approach (SA) or a combination of SA and Internal Model Approvals (IMA).
Join us for this free webinar where we will blow you away with the simplicity with which you can setup new procedures, delegate them to team members, and watch as they check off tasks and update the managers dashboard in real time.
Over the past week, regulators across the globe have responded to looming market disruption by providing flexibility to derivatives users in their attempts to meet a March 1 deadline for posting variation margin on their non-cleared derivatives tr
At a recent breakfast meeting we had time to ask Lee three important questions: 1) Will the uncleared margin regulations be delayed? 2) Should Firms (who aren't compliant) Continue Trading? and 3) Is Collateral a Front Office Function?
Are you ready for 2017?: CloudMargin and SWIFT hosted a breakfast meeting on February 2nd to discuss the impending uncleared margin regulations. Watch these compressed highlights to learn more.
The FCA welcomes the statements made by the European Supervisory Auth
On March 1st, heightened requirements for the posting of variation margin (VM) on non-cleared derivatives trades will go into effect. The work being done in advance of the deadline is what some have called “the largest contract repapering effort in the history of the world”. Find out why the OTC market isn't prepared, what you can do about your own challenges and join our webinar where you can "ask anything".
While the CFTC, Hong Kong, Singapore and Australia have provided transition periods for compliance with Uncleared Margin Reform, US and European prudential regulators, Japan and Canada have not. Regardless of forbearance, the pressure to get as many counterparty relationships repapered as possible remains high priority.
In this follow-up to our previous webinar, Axiom’s Global Banking Team, Senior Guest Speakers and The OTC Space will provide an update on key market developments, share insights on project strategy, and answer questions from the audience.
Register here for the follow-up webinar on Uncleared Margin Reform, an "Ask anything" interactive event.
In previous posts, I have explored a few themes around why Duco is made available as SaaS (Software as a Service) and what we learned along the way:
The European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) have published a statement in response to industry requests relating
The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 9 featuring four articles on Uncleared Margin Regulation plus 8 articles on a regulation, trading, clearing and post-trade. Get your free copy here, and send one to your colleagues.
Managing client protection in the new regulatory ecosystem can be achieved in a truly cost efficient manner by introducing a direct clearing model. The beauty of a well-designed direct clearing model is that all client driven capital costs for repo transactions are eliminated while clients receive “best-in-class-client-protection”. In other words, Direct Clearing has the potential to benefit the entire financial industry.
Since Regulation Asia’s last OTC Derivatives Summit, new uncertainties have emerged. Extant challenges—such as banks’ struggle for profitability amid shrinking balance sheets and increasingly burdensome capital adequacy requirements—appear no closer to being resolved. A seeming lack of regulatory coordination, exemplified by Hong Kong, Singapore and Australia not carrying through with the 1 September deadline for initial margin, has only added to the problem. OTC Space registered readers can access a 20% discount on registration.
Illuminate Financial Management, founded in 2014 in London, is a venture capital firm funding financial technology startups that have the potential to effect real change within capital markets. Since late 2015, folks at Illuminate have been investing from the IFM Fintech Opportunities Fund, which counts Deutsche Boerse Group and Markit among its LPs.
In this article, I will provide a snapshot of some derivatives related regulatory developments, which may be of interest to the reading audience of Rocket. It is to some extent a random selection of topics, all of which have however been, or are currently, the centre of attention of the relevant regulators and the derivatives industry, either as a result of the introduction of new regulations or through the publication of consultation papers. Given that this article seeks to focus on some main regulatory highlights, the level of detail provided will necessarily be limited. However, a further in-depth analysis of any of the topics discussed below may follow in a future article.
When ISDA says "other regulators" - do they mean ESMA? ;-)
Six months to comply for US regulated firms
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