Think of a revolver as a credit facility. When a fund ‘goes long’ on a revolver it is selling the ‘right to borrow’ to a counterparty. This paper outlines the concept within the framework of traditional bonds and how you would treat the facility and ensuing term loan using standard accounting functionality for bonds.
The Depository Trust & Clearing Corporation (DTCC), has outlined a three-prong plan to further harmonize derivatives trade reporting requirements and deliver against objectives that were originally established by the Group of 20 (G20) at its historic 2009 summit in Pittsburgh.
CME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, and IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions, announced that they have agreed to combine their post-trade services into a new joint venture.
PIMCO, Man Group, IHS Markit, State Street, Microsoft and McKinsey & Company today announced the intention to form a new technology-led company, HUB, to build a cloud-based operating platform aimed at transforming asset managers’ operations technology.
The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced the launch of DTCC Consulting Services, a new advisory service to provide market participants around the world with unparalleled access to the firm’s expertise and experience in post-trade processing.
Virginie O'Shea has written a post covering the idea of industry utility platforms and why they haven't seen more take up. Given the amount of cost in the post-trade space for processing transactions it would seem an idea ripe for investment.
For firms reporting via DTCC an added value connection has been added between the GTR and the triResolve reconciliation service. The connection enables firms to see a comparison between their data reported to GTR and the same transactions reconciled via triResolve.
Nivo, the Manchester-based instant messaging and identity verification platform, has announced the close of a £2m funding round from GP Bullhound, the Angel CoFund and a syndicate of angel investors