This blog post was originally published on FOW.
The EU rejection of EMIR on February 5, 2013 is specifically directed at non-financial companies, such as airlines, agriculture firms and other corporates that use derivatives to hedge against commercial activities. The ruling likely provides much-deserved relief to non-financial hedgers by modifying, reducing or potentially eliminating a threshold-based clearing obligation.
This blog post was originally published in Wall Street Letter.
Industry participants that oppose the onerous and complicated requirements of Basel III may succeed in permanently eliminating a U.S. implementation. Although it is likely that enhanced capital and risk standards, as mandated by the Dodd-Frank Act (“DFA”) will be implemented, they may however, depending on certain pending initiatives, be prescribed through government and industry collaboration.
In response to a request by industry participants, the U.S. federal banking agencies, on November 9, 2012, released a joint release indefinitely delaying the January 1, 2013 U.S. implementation of Basel III.
This blog post originally appeared on TabbFORUM.
Regulatory changes are among the most challenging events taking place in the financial industry today.
The Dodd-Frank Act, as statutory authority, continues to demand a significant data process and collection re-engineering effort. For example, the newly adopted FINRA Rule 2111 which governs customer suitability for brokerage customers is applicable to all …
This post originally appeared in a longer form on TabbFORUM and also appears on ATMonitor. The noise created by the flood of new regulations proposed for the global capital markets, plus the resulting storm of debate, continues to grow louder. I’ve been participating as a technology supplier – but also as a bank depositor, retail [...]
This is the year that regulatory changes are starting to bite. Dodd-Frank, EMIR and Basel III are all combining to fuel huge growth in the demand for high-quality assets for use as collateral and to maintain liquidity levels. To add to the complexity, we are experiencing a simultaneous drop in the availability of these in-demand [...]
I recently participated in another Twitterview with DerivSource, who asked me several questions about transformations happening in the post-trade processing space. Within the context of regulatory reform, firms are recognizing the need to make changes to meet new rules, both those that have been identified and those still to be determined. In the Q&A, we [...]
This blog post originally appeared on FTF News.
In recent years, we have seen many developments in getting the industry to light speed in the front office, but now the focus appears to be shifting to real-time data management and post-trade processing applications, especially in the OTC derivatives space. As the CCP landscape continues to evolve in the midst of unprecedented regulatory reform around the globe, firms now face the daunting task of adapting their post-trade processes to meet their current requirements and to prepare for the future…
Interested parties have now had time to digest the European Commission’s October MiFID 2/MiFIR proposals, and major questions have been raised by a wide range of people. Looking briefly at the main areas of debate:
With trends in OTC derivatives in mind, we recently held a Twitterview with DerivSource and Kevin McPartland of TABB Group to delve into the topic a bit more. We discussed the rising cost of participation in the OTC space, the data management imperative, and balancing IT budgets given the continued uncertainty around new rules. I’ve [...]
It is clear that regulatory changes are transforming the OTC derivatives space, from execution to settlement. There are many challenges at play here. As we head into 2012, market participants will need to manage large volumes of data in order to clear and process trades, and we will see new pressures on the cost and the more effective use of capital. In response to this industry transformation, my team and I have identified 10 key trends shaping OTC derivatives today.
I have posted the full list below. How is your firm approaching these 10 trends in OTC derivatives?