On the ESMA website a new timeline popped into view a few days ago (Source: http://www.esma.europa.eu/page/European-Market-Infrastructure-Regulation-EMIR), which I have added to the log of these timelines on my Official EMIR Timeline page. There’s two interlocking dates on their timeline, the earliest date on which a CCP can achieve authorisation (moved from April to September) and the […]
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Confirmation timeliness challenges | DerivSource
May 24, 2013 
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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 […]
Read moreBuy-side, CFTC, DerivSource, Dodd Frank, EMIR, ISDA, News, Regulation
EMIR developments | Round up
May 21, 2013 0 Comments
RTS defining contracts with ‘direct, substantial and foreseeable effect’ A letter was sent from the European Commission to ESMA requesting the delivery of draft Recommended Technical Standards (RTS) defining contracts which, although transacted between 3rd country counterparties seemingly outside the scope of EMIR regulation, could be deemed to have ‘direct, substantial and foreseeable effect’ in the […]
Read moreSEC advise EC and ESMA to consult on EMIR equivalency
May 16, 2013 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 […]
Read moreAllen & Overy on EMIR
May 15, 2013 1 Comment
Allen & Overy published a short summary of EMIR key points and make some noteworthy comments. “Structured finance vehicles” part caught my eye in particular, where it’s more than obvious that these entities will give their compliance departments lots of headaches…. Check this out here. Maria L.
Read moreToo much choice: The problems with Europe’s plethora of segregation models – Risk.net
May 14, 2013 2 Comments
Speaking from experience, the number of models and the details underneath them aren’t going to get any easier, especially when the interpretation of the word by word reading of EMIR can lead to considerable ambiguity and flexibility. Tom has done a good job of illuminating the challenge of solving the legal, operational and commercial challenges […]
Read moreEMIR and Non Financials. A “love to hate” relationship….
May 8, 2013 2 Comments
A really good update by Herbert Smith Freehills LLP over at Lexology about EMIR and three areas of change that will mostly affect Non Financial counterparties and the way they use derivatives. Analysis is provided on clearing obligation , along with the thresholds and the hedging exemption, risk mitigation for non cleared trades and the reporting […]
Read moreDo clearing mandates actually work?
April 26, 2013 3 Comments
In an environment where bilateral and cleared trades are more appropriately risk mitigated through bilateral margin, CCP margin and guarantee funds and Basel III capital, fragmentation costs and increases in systemic risk due to regulatory clearing mandates may actually outweigh systemic risk and funding and capital benefits. Why? Because mandatory clearing has fragmentation costs […]
Read moreIt’s all about data | Mark Davies, Head of Avox speaks
April 21, 2013 1 Comment
A really good piece on the importance of data and their critical role to the efforts of regulators and market participants to ensure that the financial markets are underpinned by a robust infrastructure in order to monitor and offset risk effectively. More details here at Reuters where Mark Davies, Head of Avox writes. Avox is a wholly owned […]
Read moreDodd Frank, EMIR, FATCA, LEI
Authors
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Amir Khwaja
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Ben Larah
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Michael Beaton
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corinaki24
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Jon Skinner
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Mihir Vaidya
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Maria Leontiou
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samihodgson
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Bill Hodgson
- EMIR timeline moved by 5 months | Earliest Start for Clearing now May 2014
- Navigating Key Dodd-Frank Rules Affecting Swaps End Users — The Harvard Law School Forum on Corporate Governance and Financial Regulation
- Op-Ed: Now Is the Time to Defer the June 10th Central Clearing Deadline : The Swap Report
- Has CFTC given too much power to SEFs?
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Tom Riesack
- EMIR timeline moved by 5 months | Earliest Start for Clearing now May 2014
- Navigating Key Dodd-Frank Rules Affecting Swaps End Users — The Harvard Law School Forum on Corporate Governance and Financial Regulation
- Op-Ed: Now Is the Time to Defer the June 10th Central Clearing Deadline : The Swap Report
- Has CFTC given too much power to SEFs?
- US funds fear inability to clear amortising swaps – Risk.net
- Domain Name Scam
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Beat the Experts
- Standardised OTC swaps (TrueEx) to launch within weeks – Risk.net
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Official Timeline for EMIR
- Price Alignment Interest
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carlarweir: Reblogged this on Carl A R Weir's Blog....
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EMIR timeline moved by 5 months | Earliest Start for Clearing now May 2014 | The OTC Space: […] which I have added to the log of these t...
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