December 20, 2019

Another Year Comes to an End

Well here we are at the close of another year in the capital markets. I looked back over the OTC Space this year and highlights that jumped out include:

  • The ISDA Common Domain Model became Open Source. This is a step to encouraging wide adoption
  • SwapAgent processed a Swaption
  • Deka Bank moved their cleared portfolio from SwapClear to Eurex
  • CloudMargin got a new CEO – a poaching of sorts from triOptima
  • Lots of webinars on UMR and margin
  • The UMR timetable has been extended
  • LIBOR remains a problem
  • Projects based on DLT are still waiting for clearance to take-off
  • SIBOS – one really big event, a ten minute walk from one end to the other
  • Updates to SIMM and excitement about the 50mm IM threshold
  • EuroCCP being bought
  • Refinitiv being bought

And one theme that came up at events which I've noticed, is how many firms are offering to settle payments. With new technology making multi-party systems cheaper and easier to build, everyone wants to position themselves as the new platform for value movement. And alongside that the emergence of platforms which challenge custody – representing, storing, transferring and safekeeping assets in the digital world. 

On a personal note I'd like to thank everyone who contributed to the OTC Space this year, my colleagues, and my new and existing customers during the year. Have a good break and see you refreshed in 2020.

Bill Hodgson, December 2020

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