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February 26, 2017

An Interview With Lee McCormack, Head of Strategy and Product Development at CloudMargin

At a recent breakfast meeting we had time to ask Lee three important questions:  1) Will the uncleared margin regulations be delayed? 2) Should Firms (who aren't compliant) Continue Trading? and 3) Is Collateral a Front Office Function?

At a recent breakfast meeting we had time to ask Lee McCormack from CloudMargin three important questions:  

  1. Will the uncleared margin regulations be delayed?
  2. Should Firms (who aren't compliant) Continue Trading? and
  3. Is Collateral a Front Office Function?

Watch the video below for this very brief insight into opinions you should consider in your compliance programme.

  • [00:10] Will the uncleared margin regulations be delayed?
  • [00:53] Should Firms (who aren't compliant) Continue Trading?
  • [01:09] Is Collateral a Front Office Function?

Important Note

This filming was carried out on February 2nd prior to some announcements by regulators. As of Feb 26th here is what we believe to be the current regulatory status. Please verify your own status via your legal and compliance advisors, do not rely upon the statements below.

  • US CFTC announced a no-action letter
  • US Fed and OCC ask for “good faith” attempts
  • Europe: March 1st but ‘case by case’ forbearance
  • Canada: March 1st
  • Korea: March 1st
  • Japan: March 1st
  • Hong Kong, Australia, Singapore: 6 month transition period

For more information please visit www.cloudmargin.com


 


Breakfast Briefing Highlights

For a wider perspective on the topic you might also like the compressed highlights of the breakfast meeting where the above interview took place:

Are you ready for 2017?: CloudMargin and SWIFT hosted a breakfast meeting on Maximise Your Collateral Management Programme on February 2nd to discuss the impending uncleared margin regulations. Watch these compressed highlights to learn more. The financial industry is changing and how companies approach collateral management is becoming increasingly important. CloudMargin and SWIFT host a discussion for collateral managers and their firms to better understand how to use the most innovative communication tools to manage collateral for competitive advantage.

Panelists include:

  • Lee McCormack, Head of Strategy and Product Development, CloudMargin
  • Karl Wyborn, Global Head of Sales, CloudMargin
  • Matt Cook, Senior Markets Manager Capital Markets & FX, SWIFT

After watching you will leave having learned about:

  • The major post-crisis regulatory changes that are affecting the industry
  • How the collateral management community has been impacted in the front, middle and back office
  • Innovative solutions for managing collateral more efficiently by leveraging legacy and new technologies
  • Real life application: How the CloudMargin + SWIFT collaboration allows firms to use SWIFT Standards for sending and receiving assets for collateral and valuations
  • What the future holds: 2017 is the year of integration and standardisation

Watch the breakfast meeting highlights here.

 

 

 

 


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