The OTC Space | Category Archive

Confirmation timeliness challenges | DerivSource

May 24, 2013 by Maria Leontiou 0 Comments

A great piece by Nick Fry on DerivSource regrading the changes that Industry will go through in its efforts to comply with regulation requirements. Using figures from the recent ISDA Operations Benchmarking Survey (OBS) in May 2012, he makes his point that the market will have to change dramatically in order to comply. Both Buy-Side and […]

Documentation, Timely Confirmation

Competition | June 10th Mandatory Clearing Prediction

May 22, 2013 by Amir Khwaja 0 Comments

The Dodd-Frank Act has a mandatory clearing deadline of June 10th for Category 2 entities (hedge funds, non-swap dealer banks) We are asking the following question: What do you predict will be the gross notional remaining of Uncleared USD IR Swaps FixedFloat in the week of 10th – 14th June 2013, as reported to the USD Swaps Data […]

O’Malia speech – useful synopsis of what’s not yet regulated

May 20, 2013 by Jon Skinner 0 Comments

A way through the fog of CFTC Title VII final rules, exemptive orders and no action letters is offered by Commissioner O’Malia’s speech to Energy Risk 2013. He uses a Rumsfeld-like categorization of known unknowns and unknown unknowns to sum up what’s still to be done and to be discovered as a result on reporting, clearing […]

CFTC, Conference, Dodd Frank

The echo of CFTC’s approval on Final SEF Rules

May 17, 2013 by Maria Leontiou 0 Comments

Yesterday, the CFTC met to vote on final rules for swap execution facilities (SEFs). The Commission’s five members voted in a public meeting on new platforms for swaps that will bring bilateral trading to an end, and transfer trades to centralized, transparent marketplaces. A lot of criticism on these decisions is already loudly expressed from some of […]

CFTC, Dodd Frank, News, Regulation

cftc, derivatives market, Dodd Frank, SEF, SIFMA, swaps

The CFTC has approved SEF rules, block rules, MAT rules

May 16, 2013 by Tom Riesack 4 Comments

Almost unbelievably, the CFTC has voted in favor of the trade execution rules. The CFTC voted 3-2 to pass the Swaps Blocks Rule. The CFTC also voted 3-2 to approve the Made Available to trade rule. The agency voted 4-1 to pass the SEF rules. Lastly, the Commissioners voted unanimously to approve the Interpretive Guidance […]

CFTC, Dodd Frank

cftc, SEF

SEC advise EC and ESMA to consult on EMIR equivalency

May 16, 2013 by Maria Leontiou 1 Comment

“European authorities should consult on their approach to determining whether foreign derivatives regimes are equivalent to the European Market Infrastructure Regulation (EMIR) because these decisions have the power to break up the over-the-counter derivatives clearing system“. This is Eric Pan speaking, associate director in the office of international affairs at the US Securities and Exchange Commission […]

European Market Infrastructure Regulation, European Securities and Markets Authority, SEC

First FCM completes production testing with CreditLink | Market Infrastructure

May 15, 2013 by Maria Leontiou 1 Comment

Things are moving fast in US and the first FCM has completed its production testing with CreditLink. One of the fundamental points of CFTC regulation 1.7 provides that clearing firms and buy-side firms should be able to ensure certainty of clearing acceptance by their clearing member at the time of execution and this service offers […]

Buy side, Clearing, Commodity Futures Trading Commission, Credit Centre, CreditLink, Traiana

Clarus Financial Technology Launches SDR View

May 14, 2013 by Amir Khwaja 1 Comment

London, May 14, 2013 – Clarus Financial Technology today announced the release of SDR View, its Swaps Data Repository viewer application. This is publicly available at http://www.clarusft.com/sdr-view/ The DTCC DDR trade repository has been set-up to publicly disseminate all OTC Derivatives trade activity that is required to be reported to a Swaps Data Repository (SDR) […]

Some traders expect OTC volumes dip from CFTC KYC rule | IFR report

May 2, 2013 by Mihir Vaidya 3 Comments

The documentation protocols for buy-side accounts under the CFTC regulations went into effect on May 1, 2013. Despite warnings from dealers in the months leading up to the May 1st timeline, it appears that a significant percentage of buy-side firms did not sign up to the protocols (requiring them to disclose detailed information to their […]

Dodd Frank, IFR, News

buy-side, cftc, kyc, otc, swaps