former executive vice president, SunGard’s brokerage & clearance business
Contributor: Past Author - Richard Hulit
Last month, I attended the FIA Futures & Options Expo in Chicago. Not only did I sit on the Expo’s Tech Solutions for OTC Clearing panel (which you can now listen to on the FIA site), but I participated in a video interview series with the Futures Industry Association.... read more
former executive vice president, SunGard’s brokerage & clearance business
Contributor: Past Author - Richard Hulit
A few months ago on this blog, I asked FCMs the following question: Do you know if, where and how much you are overpaying in brokerage and exchange fees? For many, this question is a difficult one to answer. Futures commission merchants are facing multiple challenges around exchange fees, clearing fees and brokerage claims, including increasingly complex fee schedules, frequent modifications of fee rates and levels and shorter deadlines for claiming rebates.... read more
former executive vice president, SunGard’s brokerage & clearance business
Contributor: Past Author - Richard Hulit
Beginning Jan. 1, 2011, cost basis reporting will be mandatory for all brokers executing transactions that involve publicly traded securities. This may prove to be easier said than done. You must address technology and data issues now if you are to ensure future compliance with the regulations. But cost basis is not just about tax systems or even compliance. If it is approached the right way, this challenge may actually help increase efficiency, strengthen customer service and foster transparency. ... read more
former executive vice president, SunGard’s brokerage & clearance business
Contributor: Past Author - Richard Hulit
Last Thursday, I joined a full room at FIA Boca 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 over-the-counter derivatives market through explicit regulation and the movement of OTC contracts to clearinghouses. On Thursday his speech highlighted these calls to action once again. ... read more
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