The OTC Space | Category Archive

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 3 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

Allen & Overy on EMIR

May 15, 2013 by Maria Leontiou 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.

Allen Overy, EMIR, News, Regulation

Allen Overy, EMIR

Too much choice: The problems with Europe’s plethora of segregation models – Risk.net

May 14, 2013 by Bill Hodgson 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 […]

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) […]

EMIR and Non Financials. A “love to hate” relationship….

May 8, 2013 by Maria Leontiou 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 […]

Non Financials, regulatory technical standards, risk mitigation

markit conference – the highlights

May 3, 2013 by Amir Khwaja 0 Comments

Attended the annual markit customer conference in London today, titled Financial Markets Reform. Below are some highlights, while more detail can be found here. Large turnout, at least 500 if not more. Every seat with a keypad device for voting. Four panels and a keynote by Rich Ricci, until very recently CEO of Barclays Corporate […]

News, Regulation