Over the last few months the topic of conduct risk, behavioural risk and general management concern around how to demonstrate to the regulators that a given business is behaving correctly, has come up again and again. As the conversations have focused in on areas of concern, the topic of “last look” and how price makers are managing the risk of e-distribution of prices is attracting attention. This round table was set up specifically to tease out the background to this methodology, the current implementations, some potential issues such as they are; and any potential remedial approaches.
As of the 17th February, SunGard have made available a white paper detailing a holistic view of effective collateral management. This paper features participation from AEGON, AcadiaSoft, AllianceBernstein, Brandywine, Citco, and SunGard.
For the second year in a row, President Obama is requesting a massive increase in funding for the CFTC. In his 2016 budget blueprint, the president seeks $322 million for the CFTC, a 29% increase from this year’s $250 million. The budget plan must still pass Congress, which will hold hearings soon. I doubt, however, that the entire amount will be approved.
Due for publication at the start of April, Portfolio Compression is the one-stop guide for trade compression, applicable to all derivatives, with a particular focus on energy trading products.
The Thomas Murray CCP Risk Assessment looks to determine the extent to which the CCP manages your risk burden. Each assessment brings transparency to the industry for the benefit of users, and offers cost savings to regulated firms that are required to perform due diligence and risk assessments on CCPs.
Whilst those of us in Europe and America have been focused on the immediate challenges of Dodd Frank (via the CFTC) and EMIR, in the rest of the world these new regulations pose an even more complex web to navigate.
In a recent ISDA survey of derivatives users, the introduction of margin requirements for non-cleared derivatives was h
A real budgeted role in London UK, in an easterly direction
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.
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