July 2016

'Events' 6th Annual Risk Management Forum: 10% Discount for OTC Space Readers 19 July 2016 | Samantha Hodgson

Will include topics such as market risk, regulatory spotlight, credit risk, stress testing, liquidity risk, and operational risk. Registered OTC Space readers can make use of a 10% discount on registration for the event.

'News' Insights Enhances Razor Risk™ to Meet New Market Risk Standards 18 July 2016 | Peter Walsh

Razor Risk™ now supports the FRTB – minimum capital requirements for market risk capital reforms. The solution offers financial institutions the ability to calculate and manage market risk capital and performance across desks, business lines or top of house.  

'News' Compression Comes to Client Clearing via ClearCompress 13 July 2016 | David Hill

Compression for Clients of Clearing Members Becomes Available to Release Capital

'Articles' Comparing SIMM vs. CCP margin delivers unexpected results 07 July 2016 | OpenGamma Feed

On 9th June, it became clear that the European Union would delay the implementation of the mandatory bilateral margin. See for example the Risk article or the Bloomberg article.

'News' FG16/5: Guidance for firms outsourcing to the 'cloud' and other third party IT services 07 July 2016 | Financial Conduct Authority Feed

In November 2015 we consulted on guidance to clarify the requirements on firms when outsourcing to the ‘cloud’ and other third party IT services. The guidance is updated in the following areas:

'Articles' Brexit – Two Weeks On 06 July 2016 | ISDA Feed

Like many people, I woke up on Friday June 24 expecting to hear the UK had voted to remain in the European Union (EU). The final polls had suggested the Remain campaign was ahead, and sterling had begun to rally the day before.

'Articles' Message Automation working with Buy-Side on MiFID II solution 05 July 2016 | Hugh Daly

Many financial institutions and buy side firms in particular are seeking ways to leverage the work required in achieving MiFID II compliance by adopting a much more strategic approach to all of their regulatory trade & transaction reporting requirements.

'Articles' 25% increase in cleared swaps initial margin in the 5 days since Brexit 05 July 2016 | OpenGamma Feed

On Tuesday, 28th June, I posted a blog post about the impact of Brexit on OTC swaps cleared margin. We anticipated that the impact of Brexit would progressively increase in magnitude over the subsequent days.

'News' European Supervisory 01 July 2016 | ESMA Feed

European Supervisory Authorities say to the European Commission on the bilateral margin rules, in brief, WTF? You had plenty of time and participation to get this done.

'News' End of a Clearing Project, SwapClear LLC 01 July 2016 | Bill Hodgson

Wind down of SwapClear LLC in the US

'Articles' Financial Network Topology and Women of System: A Dangerous Combination 01 July 2016 | Streetwise Professor Feed

June 2016

'News' ESMA issues 30 June 2016 | ESMA Feed

There's a lot of legal words in the PDF below, but the short answer is that Danish retirement pension plan is right to apply for a permanent exemption from clearing and reporting under EMIR and has been granted an exemption as requested.

'Articles' Light at the End of the (Channel) Tunnel 30 June 2016 | Harvard Law School Feed

Posted by Christopher Leonard, Akin Gump Strauss Hauer & Feld LLP, on Thursday, June 30, 2016