2018 is set to be a transformative year for transaction cost analysis. Driven by new regulatory requirements coming into force the first week of the year, such as the revised Markets in Financial Instruments Directive (MiFID II) and the European Union’s new rules on packaged retail investment and insurance-based products (PRIIPs), the need for transparency improvements and reliable audit trails in trading and investment products has taken multi-asset-class TCA mainstream.
Whilst everyone talks quickly about the future impact of MiFID II, there is a more immediate impact for UK-based firms given the FCA focus on remediation, following their thematic review of asset managers. The FCA has made it increasingly clear in a series of industry engagements, from the thematic review in 2014, to the Press Release in March this year, that firms are not taking sufficient action to ensure their clients receive best execution.There is a particular focus on the OTC Fixed Income, Currency and Commodity markets. MiFID itself then adds to the complexity and the devil, as always, is in the detail.
The team here at The OTC Space are pleased to announce the availability of the downloadable PDF edition of Rocket 10 (in the attachments section below). Formatted in landscape to fit your computer or portable device screen, this edition contains inside information on what's happening in the industry. The PDF is attached below, and contains a great set of articles from previous and new authors.
The annual Bürgenstock meeting in 2017 is a three day event run by ICDA, the second oldest futures industry association in the world. OTC Space Registered Readers can access a 15% discount to this event.
A new partnership in advance of MiFID II Reporting between RegTek.Solutions and Deutsche Börse
The Summit for Asset Management (TSAM) brings you together with senior decision makers from the world’s most innovative and forward thinking asset managers globally. OTC Space Registered readers can access a 20% discount on registration.
The European and global banking scene has been embroiled in a slew of changes in the clearing and margining world over the last years, with the rules on variation margin for uncleared OTC deals coming imminently.
The OTC Derivatives Summit of the Global Fixed Income Institute is an annual event which has now been running for over ten years. Those in the know refer to the Summit informally as the Pennyhill Park event – where a group of the most senior buy- and sell-side individuals debate (in private) the latest challenges running an OTC derivatives business.
How much is it worth paying to restore trust in banks and financial markets? Well, I suppose you first have to establish how much trust in those institutions was lost as a result of the 2008 financial crisis.
The effects of MiFID on the financial markets will be profound and impact almost all aspects of how the markets are managed. The distribution and consumption of research is no exception to this, with the new framework that is being finalised under investor protection causing many sleepless nights to those firms who are attempting to interpret this into pragmatic infrastructure. This directly affects banks as research producers, and asset managers or pension funds as research consumers.