In an interesting move 3,000 Greek counterparties will become indirect customers of LSE UnaVista via their delegated reporting service, as reported at Banking Technology:
I was going through some articles these days to get the Market's heartbeat and find out more about the first day of Reporting when I came across ESMA's press release on Friday which, in short, reveals one of the many gaps of this Regulation.
The data quality analyst will work closely with DTCC Development, DerivSERV Operations, Product and Project Managers. The candidate must be able to interact with a large customer base consisting of Global Banks, Swaps Execution Facilities (SEF’s) and Designated Contract markets (DCM’s).
Further to pushing eTrading offshore through footnote 88 of its SEF rules, another footnote (195) was clarified by CFTC to demand SEFs become a central source of paper ISDA master agreements for non-cleared products executed on their platforms - says a Risk article (subs. required).
Bloomberg's announcement Wednesday published in the FT(subs. required) that it is going to allow sponsored access into its SEF may be another key step in the emergence of agency execution as a new way for buy side firms to trade swaps.
We now know nearly everything we need to know about the SEF go live schedule (apart from what the outcome will be on packaged trades). Here's a handy summary.
If you are a firm who is not yet prepared for reporting all derivatives (that means ISDA OTC and Exchange Traded) to a Trade Repository, here's some emergency steps you can take:
Chicago, February 11, 2014 – Clarus Financial Technology today announces the release of SEFView, its new service for tracking Swap Execution Facility (SEF) volumes.
First CCP announces readiness for the start of EMIR Trade Reporting.
State of the art collateral management systems delivering STP connectivity out of the box.
Banks' withdrawal from principal market making is in turn driving investors from corporate bonds to CDS indices to trade or hedge credits
In a press release (PDF) announced today, IOSCO announced their publication of a consultation report on the Code of Conduct Fundamentals for Credit Rating Agencies (PDF).
A research paper from ISDA here (http://www2.isda.org/functional-areas/research/research-notes/) explains how much progress has been made in clearing Interest Rate produc
ISDA have built their own charting and analysis site using the data from the DTCC SDR, an example is below and there is a regular blog with analysis of the market.
Over at the Swaps Report they have made it easy to figure out which products are mandated to be traded on a SEF in the US. At some point something similar may happen with OTFs in Europe.
OpenGamma is the only next-generation risk technology company in the industry.
ISDA backed up December survey opinon with a January cleared transaction volumes analysis to show that CFTC's SEF rules already shifted D2D IRS volume offshore from the US.
In a press release published today, ISDA announced that the release of the 2014 Credit Derivatives Definitions will be pushed back until September 2014.
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