Matthew Spiegel, finance professor at Yale School of Management likens financial institutions’ view of liquidity to manufacturers’ view of inventory: the most liquid or easiest to move inventories are the easiest to manage. Now, as financial institutions move into the new Dodd-Frank world, they are more incentivized than ever to manage liquid inventories of financial products.
ISDA have issued this paper which provides comment on what they see are the issues around the various derivatives trade reporting initiatives which came into being following the declaration made at the 2009 G20 Pittsburgh Summit (and which led to
G.McDermid: Press release about CPMI and IOSCO issuing the Implementation monitoring of the PFMI: Level 2 assessments for central counterparties and trade repositories in the European Union, Japan and the United States.
West Coast's leading quant, automated trading, and big data event.
The European Securities and Markets Authority (ESMA) has published today an update of its list of central clearinghouses (CCPs) which are authorised under the Euro
Gordon McDermid: JP Morgan concludes on the uneconomic nature of client clearing in the current regulatory envrionment and warns of potential consequences
FOW returns to Amsterdam on 17 March 2015 continuing in its successful expanded format to look at the central themes affecting the Dutch market.
Every year in March, 1,000 senior-level executives from brokerage firms, asset management firms, international exchanges and regulatory bodies convene in Boca Raton, Florida for the leading strategic conference on the global exchange-traded industry landscape. The three-day conference format contains informative session topics, along with ample networking opportunities and social events.
The Future of Clearing and Settlement 2015 will bring together key players from Europe’s venues, CCPs, CSDs and user community to explore the strategies being employed to harness the opportunities of this new era.
When the first iteration of the Markets in Financial Instruments Directive (MiFID) was implemented in November 2007,
it transformed the marketplace for equities. It introduced the concept of multilateral trading facilities (MTFs), and helped to lower transaction costs, narrow bid-ask spreads and accelerate trading times in equity markets, as was envisaged by the European Commission. However, MiFID has also had unintended effects on the market, by increasing market fragmentation through the proliferation of trading venues and the emergence of dark pools..
The Devil’s Derivatives: The Untold Story of the Slick Traders and Hapless Regulators Who Almost Blew Up Wall Street… and Are Ready to Do It Again. 30% discount offer for registered readers.
The move by the ECB to require CCPs who clear EUR to be based within the EUR zone should be resolved soon, according to this report from Reuters.
The team here at The OTC Space are pleased to announce the upcoming launch of Rocket 3. With all original content, we're confident it's going to be popular; the last edition got lots of positive feedback. The launch date is set for March, and the following article titles provide a teaser as to what can be expected:
If you have read my previous articles on Tabb Forum, you will know that I believe the all-important swaps reporting requirement has been badly mishandled by the regulators worldwide, missing a golden opportunity to shed some light on this otherwis
Over the last few months the topic of conduct risk, behavioural risk and general management concern around how to demonstrate to the regulators that a given business is behaving correctly, has come up again and again. As the conversations have focused in on areas of concern, the topic of “last look” and how price makers are managing the risk of e-distribution of prices is attracting attention. This round table was set up specifically to tease out the background to this methodology, the current implementations, some potential issues such as they are; and any potential remedial approaches.
As of the 17th February, SunGard have made available a white paper detailing a holistic view of effective collateral management. This paper features participation from AEGON, AcadiaSoft, AllianceBernstein, Brandywine, Citco, and SunGard.
For the second year in a row, President Obama is requesting a massive increase in funding for the CFTC. In his 2016 budget blueprint, the president seeks $322 million for the CFTC, a 29% increase from this year’s $250 million. The budget plan must still pass Congress, which will hold hearings soon. I doubt, however, that the entire amount will be approved.
Due for publication at the start of April, Portfolio Compression is the one-stop guide for trade compression, applicable to all derivatives, with a particular focus on energy trading products.
The Thomas Murray CCP Risk Assessment looks to determine the extent to which the CCP manages your risk burden. Each assessment brings transparency to the industry for the benefit of users, and offers cost savings to regulated firms that are required to perform due diligence and risk assessments on CCPs.
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