Contributor: Daniel Parker
This blog post was originally published on TabbFORUM. For many sell-side capital markets participants, collateral management has emerged as the most profound business requirement of 2013. For the buy-side, and depending on the final rules and participants’ functional capabilities, collateral optimization may be one of the most prolific revenue opportunities presented in years.... read more
Contributor: Ted Allen
We all know that the regulatory tsunami of Dodd Frank, EMIR and Basel III is causing a fundamental change in the financial industry and to both buy-side and sell-side business models. With many of these changes coming into effect in 2013, great strain will be put on people, processes and balance sheets. Now is the time for a comprehensive look at how firms are adapting to this new reality and what their main priorities are for driving change and investment.... read more
Contributor: Daniel Parker
This blog post was originally covered by Advanced Trading. Another day, another regulatory rule. And this one seems to be causing stress for risk and compliance managers at U.S. banks. Under the newly imposed stress test rule required by the Dodd-Frank Wall Street Reform Act (DFA), the Federal Deposit Insurance Corporation (FDIC) stipulates that covered financial institutions, including all U.S. banks with consolidated assets between $10 billion and $50 billion, are required to conduct annual stress tests calculated under a multi-scenario analysis. A “stress test” is generally described as the process to assess the potential impact on the consolidated earnings, losses, and capital of a covered financial institution over the planning horizon; considering the risks, exposures, strategies, and activities.... read more
Contributor: David Morgan
Tabb Group’s new report, “European Equity Trading 2012/2013: Changing the Rules of Engagement,” highlights some issues that we must hope politicians will note during their review of the MiFID regulations. It’s no exaggeration to say that Tabb’s research profiles an equity market in crisis ─ arguably one that is dysfunctional in some important respects. “Lit book” trading volumes have again fallen sharply in 2012, and there has not been a correspondingly large increase in dark pool trading. So the predicament, as it appears to most buy-side firms, is one of vanishing liquidity. And the buy-side’s primary concern – as reported to Tabb – is how and where to find what liquidity is left.... read more
Contributor: Daniel Parker
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.... read more
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