One of the deferred problems with the EMIR approach to Trade Reporting is post Feb 12th when ESMA requires all the TRs to attempt to match the submissions in a multi-lateral mashup. EMIR allows each party to a trade to report to their chosen TR, nice to have freedom of choice, but each TR has a difference technology platform and data specifications. For ESMA to re-assemble this broken mirror into something coherent, each TR must attempt to compare the same trade submission using LEI and UTI as a key, and provide matching results back to submitting parties.
Slightly off beat but really interesting, an article by Marc Andreesen (the man who invented web browsers) on the emerging phenomenon of digital currency: http://blog
Some time between now and the middle of next year a mandate to clear will come into force, but until then ESMA have been undertaking considerable consultation with market participants.
On December 10th, 2013, five US federal agencies adopted a final rule to implement the Volcker Rule. The effective date of the Volcker Rule is April 1st, 2014. However, the agencies have extended the compliance deadline until July 21st, 2015.
There is a lucrative opportunity to join a leading market infrastructure firm as Director of Product Management.
Philosophy and Course benefits
From DP: The Basel Committee recently finalized its revisions to the Basel III leverage ratio. Compared to its June 2013 proposal, the Basel Committee has made several important changes to the denominator of the Basel III leverage ratio.
For your convenience the OTC Space broadcasts to a number of other platforms including:
As expected, CFTC approved Javelin's MAT submission last Thursday Jan 17 and in effect booked a Feb 16 go live date.
One thing which is guaranteed to get me on my soap box is poor customer service.
Something few mortals achieve is being called a legend in their own lifetime, and in Clearing even less so.
The fixed income (FI) trading markets are evolving faster today than within living memory - according to panelists and speakers at Tabb's Annual conference Fixed Income 2014: Breaking Rates at the Times Center, Manhattan on Thursday January 16th. You can follow the tweets via #TABBfixed or read the Conference outline, agenda and speakers here.
There are just a couple more days to go before IMN & SFIG host their first annual ABS conference
This articles looks at Non-Deliverable FX Forwards data for USD/BRL, USD/INR, USD/CNY & USD/KRW currency pairs. It analyses trading volumes by On SEF vs Off SEF and Cleared vs UnCleared.
For a while now I have wanted to look into what is happening outside the US in terms of clearing of interest rate swaps. The news late last year that Japan Securities Clearing Corporation (JSCC), was awarded
CloudMargin, an exciting new entrant to the collateral management world is looking to expand the sales team to cope with unprecedented growth. We are looking for 2 sales executives, one based in
John Philpott follows up part 1 of his article on enterprise regulatory change with some useful ideas on the tension between horizontal and vertical models of managing change in a complex business.
ESMA is responsible for maintaining a list of National Competant Authorities around Europe, these organisations will participate in the 'College' process of CCP re-authoristion during this year.
As expected ESMA have reacted to the refusal of the one year delay to ETD reporting by publishing more information via their Q&A process.
We alerted you to the launch of a new business CloudMargin a while back, they have published their first white paper setting out some thoughts on the effect of clearing on the market.
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