MAC swaps are touted by some as a major contribution to swap market liquidity but how is the project progressing? Tod Skarecky of ClarusFT takes a look in his latest ClarusFT blog post. My sense is banks focus is elsewhere for now.
Thanks to a boom in collateralized loan obligation (CLO) issuance and solid demand for asset-backed securities (ABS) backed by vehicle loans, U.S. securitization markets are doing just fine.
Since the financial crisis began in 2008, the environment for market participants has become increasingly complex due to regulatory change under EMIR. There is a greater focus on counterparty risk mitigation and as a result, it is anticipated that more margin will need to be pledged to cover both cleared and uncleared derivatives. This has pushed collateral management to the top of the financial industry’s agenda.
Returning for the fifth time, Collateral Management 2015 will bring you latest industry insights on regulatory reporting and challenges, initial margin requirements, buy side reactions to regulations and collateral optimization.
What party, you ask? The one with the mosh pit at LaSalle and Jackson in Chicago. The one held in the building that’s in the background image of this page.
Last July marked the fourth anniversary of the passage and signing of the Dodd-Frank Act, so it is appropriate to reflect on the two sections of the DFA most of interest to OTC Space readers, Title VII on derivatives, and Section 619, the Volcker Rule.
Examining industry attitudes towards changes in clearing, Sapient Global Markets’ latest survey reveals three significant themes: regulatory uncertainty, the cost of clearing operations and implementing suitable technology. To relieve some of these pressures, more than half of those surveyed also indicated positive interest in the establishment of purpose-built market utilities. Download your copy to find out more.
SS&C GlobeOp has been a provider of processing services for OTC products for 15 years. I met with Tom Kirkpatrick and Alexandra Gillespie to discuss how they faced the challenge of regulatory change with the added pressure of many clients relying upon them to update their processing platform to support their requirements.
The international Securities Lending Association, together with the Conference Advisory Group and this year's conference Co-Chairs Mark Whipple from Goldman Sachs and Philip Morgan from Nomura International have published the conference agenda for the 24th Annual Securities Finance and Collateral Management Conference.
Got your tickets for Deluge and Drought yet?
IOSCO have published their final document on the risk mitigation standards to be applied to non-cleared OTC derivatives, which can be found here.
Here are my latest securitization issuance charts for the United States and Europe. Shortly I hope to add Australia, Canada and Japan when the data becomes available.
The European Securities and Markets Authority (ESMA) has today published an Opinion on the Draft RTS on the Clearing Obligation on Interest Rate Swaps.
First big platform to announce coverage of the requirements for Dec 1st
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