July 2015

'Articles' Racing to Support a New Regime of Accountability 17 July 2015 | JDX Consulting Feed

The lack of legal accountability applied to key decision makers following the 2008 financial crisis remains a source of great public consternation.

'Articles' A Fork in the Road: the OTF-SI Decision Process 17 July 2015 | George Bollenbacher

For any investment firm operating a single-dealer bond or swap ECN in Europe, MiFID II raises a life-altering decision – whether to become an organized trading facility (OTF) or a systematic internalizer (SI). Given the way MiFID II is worded, that choice has far-reaching implications. And, since Article 20 of MiFID says, “Member States shall not allow the operation of an OTF and of a systematic internaliser to take place within the same legal entity,” this is very much an either-or decision.

'News' ESMA publishes responses received to CP on clearing obligation 17 July 2015 | ESMA Feed

The responses can be viewed on the Consultation page.

'News' Banks notable by their absence at Apple Pay UK launch 14 July 2015 | Feed
'Articles' EurexOTC Clear: Inflation Swap Clearing - Margin & Capital Efficiencies for the Buy Side & Sell Side 13 July 2015 | Byron Baldwin

EurexOTC Clear will expand its IRS Product Scope to include Zero Coupon Inflation Swaps (ZCIS) for the Euro Zone Harmonised Index of Consumer Prices, excluding Tobacco (HICPxT), the French Consumer Price Index, excluding Tobacco (FRCPIx) and the UK Retail Price Index (UK RPI) to commence clearing from 3rd. August 2015

'News' ESMA updates list of authorised CCP and Public Register – Eurex Clearing AG extends services 13 July 2015 | ESMA Feed

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

'Articles' The eternal Greece of the financial engineer’s mind 13 July 2015 | Nick Dunbar Feed

Exactly 12 years ago I wrote about a Greek disappearing act: how in 2001 the country concocted a swap deal with Goldman Sachs to conceal almost €3 billion of debt from its national accounts, to help meet Maastricht ratios.

'News' A strategic approach to trade reporting? What's New? 09 July 2015 | Bill Hodgson

There seems to be a growing consensus from Banks, Consultancies and Vendors that MiFID2 reporting will be very hard.  Importantly avoiding the mayhem associated with EMIR will require a much more strategic approach than either EMIR or Dodd Frank.

'News' New Market Infrastructure For Bilateral Margin Regulations 08 July 2015 | Bill Hodgson

Leading Global Banks, Service Providers and Market Infrastructures Create New Hub for End-to-End Margin Processing. This announcement follows on from Project Colin, pictured here.

'Events' Derivatives Post Trade Processing & Liquidity Management: A City & Financial Conference 07 July 2015 | Samantha Hodgson

The morning sessions will focus on post trade processing for derivatives, while the afternoon sessions will cover liquidity in the new regulated market. A 20% discount is available to OTC Space readers, see bottom of the article for the code.

'Articles' Banks team up for OTC swaps utility 07 July 2015 | Financial Times | Clearing and Settlement Feed

World’s biggest swaps dealers create infrastructure hub to cut down on swaps trading disagreements

'News' Pressure builds on ESMA to reveal proposed MiFID standards 06 July 2015 | Energy Trading Regulation Feed

Following the statement made by Steven Maijoor, chair of ESMA, at the Economic and Monetary Committee last month, no information has been published on many of the proposed changes to MiFID II/MiFIR that could affect the commodities market.

'Articles' Grexit – are you ready for the operational effort? 03 July 2015 | JDX Consulting Feed

With Greece now in “arrears” with the International Monetary Fund (IMF), albeit not an “event of default”, but the recurring negotiations between the Eurozone governments and the Greek Government failing to reach agreement, the risks of a Greek ex

'Articles' Job swap: got what it takes? 02 July 2015 | Penny Davenport Feed

Job Swap A lot of people I work with t

June 2015