Dear all, The weekly digest has a new name: DAZZLING DERIVATIVES. This week also has a new feature whereby I have introduced Topic Headers to summarize news items. These Topic Headers are “Regulation (itself divided into Europe, US, International & Mixed)”, “Technology”, “Market Infrastructure” and “Business and other stories”. Let me know what you think of this…! Last […]
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Safe and profitable markets? | FTSE Global Markets
May 21, 2013 
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My next piece in FTSE GM – a bit of a rant but considerable truth in the reality of reforming the capital markets. Are we really any safer? Will the markets be profitable? Do we need more Trade Repositories? Answers just a click away. Safe and profitable markets? – FTSE Global Markets.
Read moreEMIR 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 moreCFTC Commissioners Expiry Dates | Not a Job For Life
May 20, 2013 0 Comments
Being a limey I forgot to think that the 5 CFTC commissioners don’t stay in their jobs for life, here’s when they are due to either retire, or be extended: Scott O’Malia 15th April 2015 Jill Sommers 13th April 2014 (but is planning to resign early) Bart Chilton 13th April 2013 (He remains in office […]
Read moreThe echo of CFTC’s approval on Final SEF Rules
May 17, 2013 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 […]
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 moreThe EMIR Delusion
May 16, 2013 4 Comments
Reblogged from Regulatory Reform: Introduction Under EMIR, parties to OTC derivative transactions are classified as either: financial counterparties (“FC”); non-financial counterparties which have exceeded the clearing threshold (“NFC+”); or non-financial counterparties which have not exceeded the clearing threshold (“NFC-”). Whilst primarily used to determine whether a counterparty is subject to the obligation to clear, in […]
Read moreFirst FCM completes production testing with CreditLink | Market Infrastructure
May 15, 2013 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 […]
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.
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Authors
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Ben Larah
Michael Beaton
corinaki24
Jon Skinner
Mihir Vaidya
Maria Leontiou
samihodgson
Bill Hodgson
Tom Riesack-
Competition | June 10th Mandatory Clearing Prediction
- The week that was (aka Dazzling Derivatives; issue of 21.05.2013)
- Safe and profitable markets? | FTSE Global Markets
- EMIR developments | Round up
- CFTC Commissioners Expiry Dates | Not a Job For Life
- Domain Name Scam
- 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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barry polak: Tom, A little bit late,but LCH SwapClear will n...
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carlarweir: Reblogged this on Carl A R Weir's Blog....
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Jacqui: Received one of the formal ones to my company emai...
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johndwilson: Bill, according to most ccps they are only reporti...
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stef: Received two emails from tony xu exactly the same ...
