January 2014

'News' OTC Clearing at HKEx Update 27 January 2014 | Bill Hodgson

Cleared notionals at HKEx have reached a little over USD 50m, given the previous story on Shanghai Clearing it is interesting to see the

'News' Shanghai Clearing House Launch Clearing for IRS in RMB 27 January 2014 | Bill Hodgson

Clearing for RMB IRS has begun in China

'Jobs' Securities Settlement Business Analysts | Hong Kong (Contract) 24 January 2014 | Bill Hodgson

2 x Senior Business Analysts [Contract] required in Hong Kong to build out a securities settlement system from scratch for global finance firm.

'News' Reconciling Across TRs | TriResolve have an approach 24 January 2014 | Bill Hodgson

One of the deferred problems with the EMIR approach to Trade Reporting is post Feb 12th when ESMA requires all the TRs to attempt to match the submissions in a multi-lateral mashup. EMIR allows each party to a trade to report to their chosen TR, nice to have freedom of choice, but each TR has a difference technology platform and data specifications. For ESMA to re-assemble this broken mirror into something coherent, each TR must attempt to compare the same trade submission using LEI and UTI as a key, and provide matching results back to submitting parties.

'Articles' Why Bitcoin Matters | Marc Andreesen 23 January 2014 | Bill Hodgson

Slightly off beat but really interesting, an article by Marc Andreesen (the man who invented web browsers) on the emerging phenomenon of digital currency: http://blog

'News' Feedback to ESMA on the Mandatory Clearing Obligation 23 January 2014 | Bill Hodgson

Some time between now and the middle of next year a mandate to clear will come into force, but until then ESMA have been undertaking considerable consultation with market participants.

'Articles' Volker Rule Hedge Accounting 23 January 2014 | Sol Steinberg

On December 10th, 2013, five US federal agencies adopted a final rule to implement the Volcker Rule.  The effective date of the Volcker Rule is April 1st, 2014.  However, the agencies have extended the compliance deadline until July 21st, 2015.

'Jobs' Director of Product Management, £110,000pa 23 January 2014 | Bill Hodgson

There is a lucrative opportunity to join a leading market infrastructure firm as Director of Product Management.

'Events' Risk Management in the Real World | Nassim 'Black Swan' Taleb and Raphael Douady 22 January 2014 | Bill Hodgson

Philosophy and Course benefits

'News' Davis Polk : Analysis of the Revised Basle 3 Leverage Ratio 22 January 2014 | Bill Hodgson

From DP: The Basel Committee recently finalized its revisions to the Basel III leverage ratio. Compared to its June 2013 proposal, the Basel Committee has made several important changes to the denominator of the Basel III leverage ratio.

'News' OTC Space Social Venues 22 January 2014 | Bill Hodgson

For your convenience the OTC Space broadcasts to a number of other platforms including:

Scott O'Malia, CFTC Commissioner 'Articles' CFTC confirms IRS SEF MAT live date of Feb 16 21 January 2014 | Jon Skinner

As expected, CFTC approved Javelin's MAT submission last Thursday Jan 17 and in effect booked a Feb 16 go live date.

Don't keep your customers waiting! 'Articles' Seriously? Penny Davenport says....plus 10 steps to career success. 21 January 2014 | Penny Davenport

One thing which is guaranteed to get me on my soap box is poor customer service.

'News' Dan Maguire : A Legend 20 January 2014 | Bill Hodgson

Something few mortals achieve is being called a legend in their own lifetime, and in Clearing even less so.

'Articles' Fixed Income trading paradigm upheaval: banks restrict principal market making | TABBfixed conference 18 January 2014 | Jon Skinner

The fixed income (FI) trading markets are evolving faster today than within living memory - according to panelists and speakers at Tabb's Annual conference Fixed Income 2014: Breaking Rates at the Times Center, Manhattan on Thursday January 16th. You can follow the tweets via #TABBfixed or read the Conference outline, agenda and speakers here.

'Events' IMN & SFIG ABS Vegas 2014 | Conference 17 January 2014 | Ben Larah

There are just a couple more days to go before IMN & SFIG host their first annual ABS conference

'Articles' FX NDF Trading on SEF platforms | ClarusFT 15 January 2014 | Amir Khwaja


This articles looks at Non-Deliverable FX Forwards data for USD/BRL, USD/INR, USD/CNY & USD/KRW currency pairs. It analyses trading volumes by On SEF vs Off SEF and Cleared vs UnCleared.

JPY Cleared Swaps 'Articles' JSCC and Clearing of Yen Interest Rate Swaps 15 January 2014 | Amir Khwaja

For a while now I have wanted to look into what is happening outside the US in terms of clearing of interest rate swaps. The news late last year that Japan Securities Clearing Corporation (JSCC), was awarded 

'Jobs' New Business Sales Executives - London and North America (2 roles) 14 January 2014 | Bill Hodgson

CloudMargin, an exciting new entrant to the collateral management world is looking to expand the sales team to cope with unprecedented growth. We are looking for 2 sales executives, one based in

'Articles' Models for Enterprise Regulatory Change | Part 2 12 January 2014 | Bill Hodgson

John Philpott follows up part 1 of his article on enterprise regulatory change with some useful ideas on the tension between horizontal and vertical models of managing change in a complex business.