The securities finance industry is currently digesting the heavy meal that has been Basel III, CRD-IV, Dodd-Frank and related regional regulatory initiatives impacting the global market.
The European Supervisory Authorities (ESAs) launched today a second consultation on draft Regulatory Technical Standards (RTS) outlining the framework of the European Market Infrastructure Regulation (EMIR).
Derivatives markets eye international expansion from China as dispute holds up US and Europe
The Futures Industry Association(FIA) have just published this review of regulatory reform in Europe, covering rule sets such as EMIR, MiFID and others.
There has been some confusion recently over Funding Value Adjustment (FVA). On April 29th, Risk Magazine reported that dealers were charging clients for FVA on collateralised trades, due to the quality and fungibility of collateral being posted by the client. To appreciate why this is happening, one needs to understand dealers’ funding operations when making derivatives markets.
Verena made the speech below at IDX yesterday, and took a tough line on the difference of opinion between the US and Europe of ETD margin rules being 1 day gross or two day net IM. See the transcript for her comments.
Interest rate swaps help manage bond portfolio
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.
The focus for the European Market Infrastructure Regulation (EMIR) and Dodd Frank has been to reduce risk in the over the counter derivatives world by changing their trading, clearing and reporting protocols. The more bespoke, low volume OTC products were largely left untouched but their time is fast approaching as from December 1 2015, new rules requiring variation and initial margin on un-cleared OTC business will take effect.
The team here at The OTC Space are pleased to announce the upcoming launch of Rocket 4. With all original content, we're confident it's going to be popular; the last edition got lots of positive feedback.
Was owning your own restaurant always your dream or have your goals shifted over time?
The European Markets Infrastructure Regulation (EMIR) outlined the European Unions response to the commitments made by the G20 at the 2009 Pittsburgh summit. Trade Reporting by both parties to a trade was a core tenet of this regulation.
Gavin Dixon's move follows departures at Nomura and JP Morgan.
The focus on clearing and risk management is creating an expanding need for mathematical models to calculate margin requirements in many contexts. In the exchange world SPAN has been the staple calculation method, and widely implemented by software vendors, whereas since the arrival of SwapClear and the global take up of central clearing, various variations of Value at Risk (VaR) have become necessary both for margin, capital and portfolio modelling reasons.
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