May 3, 2013
markit conference – the highlights
- 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 and Investment Bank.
- If Europe had "more heads on spikes, like the US" there would now be less press, public and political pressure to push through new punitive regulations like the Financial Transactions Tax.
- Another question to the vote, "what is highest on the radar currently" and of the five options, highest was CCP Clearing at 62% and then Trade reporting at 24%.
- What will be the definition of an benchmark vs an index for regulators, so is it as simple as saying that when financial derivatives exist on an index is it a benchmark?
- Barclays by March 2013 had cleared $13 trillion of client trades (by May 2012 it was $1 trillion and by Nov 2012 $5 trillion).
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