In May-June 2018, the European Central Bank (ECB) and the Basel Committee on Banking Supervision (BCBS) published reports on the progress of the largest, internationally active banks towards compliance with the BCBS Principles for Effective Risk Data Aggregation and Reporting – known as BCBS 239.
The team at Sernova Financial provide a detailed insight into the major challenge of moving the entire OTC market away from LIBOR in a relatively short space of time.
The Financial Conduct Authority (FCA) has, in collaboration with 11 financial regulators and related organisations, today announced the creation of the Global Financial Innovation Network (GFIN), building on the FCA’s proposal earlier this year to
The reduction of the IM threshold from €750bn to €8bn will result in a jump of ten times the number of firms in scope.
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.
A very long paper which in short asks: Should the exemptions from the Clearing Obligation for a third-country entity which is part of a consolidated group based in the EU, be extended?
Perhaps this blog post is.
CLS, IBM and Banks go public on a DLT proof of concept as a foundation for future STP solutions
In 2017, ISDA embarked on a project to develop the ISDA Common Domain Model (ISDA CDM), a common, robust, digital blueprint for how derivatives are traded and managed across their lifecycle.
The issue of contractual continuity in the over-the-counter (OTC) derivatives market following the exit of the UK from the EU (referred to Brexit) is a subject of considerable concern to firms and their clients and counterparties and should, we be
Following on from the CloudMargin "Seven Considerations about Initial Margin" and the ISDA paper, we summarise key points from the ISDA paper which also need consideration.
Through seven key considerations, this paper explores the IM regulations and challenges to be tackled from the perspective of a collateral management and OTC derivatives operations leader. It is designed to help the reader understand what to consider, within a specific timeframe, and how to meet their compliance date across the areas of law, risk, operations and technology.
TFE has released our new white paper, sponsored by DTCC. In the paper we discuss the vital role of trade repositories for transaction reporting. SFTR has designated TRs as essential elements of compliance by acting on behalf of firms to consume, validate, normalise and store the vast amounts of transaction data involved.
2018 is set to be a transformative year for transaction cost analysis. Driven by new regulatory requirements coming into force the first week of the year, such as the revised Markets in Financial Instruments Directive (MiFID II) and the European Union’s new rules on packaged retail investment and insurance-based products (PRIIPs), the need for transparency improvements and reliable audit trails in trading and investment products has taken multi-asset-class TCA mainstream.
In response to the global financial crisis of 2008-2009, the G20 agreed to a financial regulatory reform agenda covering the over-the-counter derivatives
We have now had six SOFR swap trades hit the SDRs. Both Basis vs Fed Funds and Outright OIS has traded. All trades have been $50m and one year maturity. It looks like they were all cleared at LCH. The first swap was done on the TP-ICAP SEF.
Bill: ISDA put out an announcement on the new master agreements - I like the commentary from DRS if you click through to their blog post.
An important component of FX trading has always been trading with minimal latency - whether that was being the fastest to trade over the phone, the fastest to use and interpret pricing systems, or using the fastest technology to consume data, and
Bill: A long document, the gist of which is this: ESMA says, will the NCAs please not take any action to make Pension schemes clear their trades until the European rule making process completes the 'EMIR 2' / REFIT programme of work.
The checklist of post-crisis reforms now has neat ticks alongside each item. Clearing of standardized derivatives – tick.
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