May 2014

'News' EMIR Front-Loading Move From ESMA 08 May 2014 | Bill Hodgson

Front-loading, the obigation to move trades into clearing retrospectively is a major problem for pricing OTC trades. ESMA has written a letter / proposal to the European Commission to try and defuse this unexpected consequence of EMIR.

'News' European Trade Reporting "Has Gone Quite Well" | Chairman of ESMA 07 May 2014 | Bill Hodgson

A speech by Steven Maijoor, Chair, European Securities and Markets Authority comments on European Regulation and future challenges to market reform.

'Events' Allen & Overy Free EMIR Seminar | 19th May London 01 May 2014 | Bill Hodgson

Law firm A&O provide a range of free briefings, even with food and drink included, the schedule is over at http://www.aoseminars.com. In particular I spotted their next event on EMIR:

'News' Video Introduction to SwapClear EMIR Segregation Accounts 01 May 2014 | Bill Hodgson

SwapClear have created a video explaining their five EMIR account models.

'Events' Fundamental Review of the Trading Book | New York 01 May 2014 | Sol Steinberg

I am pleased to announce that, after a 12-year hiatus, the world’s leading risk management organizations will come together again on May 6, 2014.

April 2014

'Articles' European Trade Reporting | What's the Point? 29 April 2014 | Amir Khwaja

It is now more than two months since European EMIR Trade Reporting came into operation, read our analysis of the results and what Scott O'Malia at the CFTC thinks about our article.

'News' Commodity Trading White Paper | Craig Pirrong 25 April 2014 | Bill Hodgson

The trading of the basic commodities that are transformed into the foods we eat, the energy that fuels our transportation and heats and lights our homes, and the metals present in the objects we use in our daily lives is one of the oldest forms of economic activity. Yet commodity trading is widely misunderstood, and as a consequence, it is often the subject of controversy.

'Jobs' Head of Middle Office | UK Job 22 April 2014 | Bill Hodgson

UK Head of Middle Office

'News' Feedback to The FSB on Their Data Aggregation Consultation 17 April 2014 | Bill Hodgson

Some interesting responses to the idea of aggregating data into a central place from all the global trade repositories.

'News' Blackrock Viewpoint on Central Counterparties and Too Big to Fail 17 April 2014 | Bill Hodgson

A Blackrock thought paper sets out their strong views on how CCPs should be positioned given their key role in the future market infrastructure.

'Articles' New CFTC head tackles OTC unintended consequences | risk article 17 April 2014 | Jon Skinner

The new Chairman of the CFTC is making a fast start in tackling the unintended systemic risk consequences of Dodd-Frank's Title VII derivatives rules.  Could this avert a future FCM concentration risk crisis and enable legacy stockpiles of uncollateralized counterparty risk to be more easily reduced in response to the capital incentives?   Let's hope so.

'News' CME Europe Launches Deliverable Swap Futures 14 April 2014 | Bill Hodgson

CME launches their DSF product within their European Entity and CCP.

'Articles' Industrial Change in the OTC Derivatives Market 13 April 2014 | Jake Pugh

This is a follow up to my piece "CFTC guidance on SEF access may be a game changer for OTC market infrastructure" 

'News' ISDA Margin Survey 2014 | 87% Is The Answer 10 April 2014 | Bill Hodgson

The International Swaps and Derivatives Association, Inc. (ISDA) today released results from its 2014 ISDA Margin Survey at its 29th Annual General Meeting in Munich.

'News' European CCP Authorisation Score Sheet 10 April 2014 | Bill Hodgson

Keep track of which CCPs are authorised and when.

'News' How Does the Bank of England Supervise UK Financial Market Infrastructure Firms? 10 April 2014 | Bill Hodgson

Key organisations within the UK provide components of the Financial Market Infrastructure, which the Bank of England must supervise.