Jordan Kai, Member of the Board at Steubing AG, talks about the challenges faced by continental Europe brokers and how SunGard’s trading and connectivity solutions help Steubing deliver better trading services to its clients.
Posts Tagged: regulation
The MiFID II consultation period is closed and we now await the legislative proposals. What are the main implications for brokerage firms and their technology planning? It seems clear that ESMA (European Securities and Markets Authority) will impose greater convergence of policy than its predecessor, the Commission of European Securities Regulators. The European Commission believes [...]
SunGard’s New York City Day event, held at the Waldorf-Astoria last week, was an afternoon filled with new ideas and forward-thinking conversations about best practices and the next steps for our industry.
This week I joined a group of my peers at FTF’s one-day 4th Annual OpRisk Workshop in New York. There were several speakers there sharing ideas and insight about risk, and I was fortunate enough to join Ilene Harker of Western Asset Management, Kate Leibfried of Citi and moderator Paul Zubulake of Aite Group on a panel called Enterprise Risk Management: Obstacles and Benefits.
Author: Rich Hulit, executive vice president, SunGard’s brokerage & clearance business Last Thursday, I joined a full room at the FIA Expo in Boca Raton for CFTC Chairman Gary Gensler’s keynote speech. If you have been keeping up with Gensler’s recent speeches, you know that he is a passionate supporter of increasing transparency in the [...]
It was a great event, with a lot of thoughtful questions from attendees as well as discussion around the future of the derivatives markets. If you couldn’t make it to the breakfast in New York, you can join us in London on January 14 or Chicago on February 25 for similar events.
These discussions often look at only one what-if scenario: what if these firms were about to go out of business? Would they take other organizations down with them? Would the effects significantly disrupt the markets throughout the country and around the world?
We also need to look at the situation before the business gets to that point. That leads to another important question that my colleague Tony Scianna and I have been thinking about: Can an organization become “too big to manage the risk”?
He believes this will involve providing transparency around assets, liabilities, collateral, liquidity, etc. (rather than position transparency) and says this information should already be available from existing enterprise risk management systems. Is it?
Whatever the details of the new regulations, it has become clear that the biggest impact will be around the need for real-time information, whether that relates to counterparty exposure, margins, risk reports, or other areas. It is no longer sufficient to wait until tomorrow or next week or even end of day to calculate your margins or determine your positions.