Derivatives

Mechanics of Cross Currency Swaps

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Cross Currency Swaps exchange a funding position in one currency for a funding position in another currency. The interbank market trades a resettable floating-floating swap, incorporating a USD cash payment to reset the mark-to-market close to zero at each coupon date. We explain the nuances of the product via the cashflows. The cross currency swap market […]

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Infographic – Top 10 changes to EMIR Reporting under the new RTS

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In January 2017, ESMA published its Final Report Review of the Regulatory and Implementing Technical Standards on reporting under Article 9 of EMIR, the implementation of which is scheduled for November 1, 2017; the deadline for backloading has been pushed out by two years to February 2019.

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Another “Choice” for Bank Regulatory Reform?

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Posted by Luigi L. De Ghenghi and Margaret Tahyar, Davis Polk & Wardwell LLP, on Tuesday, March 28, 2017
Editor's Note: Luigi L. De Ghenghi and Margaret Tahyar are partners at Davis Polk & Wardwell LLP. This post is based on a Davis Polk publication.

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MiFID II insulated from ESA’s recent Leniency

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Rachel Wolcott’s March 3 Article in Thomson Reuters ACCELUS highlights the fact that firms who see the EU’s apparent leniency with smaller counterparties in complying with the March 1 Variation Margin deadline as an indication of future leniency should think twice. Retuers Logo

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DSB Floats a New Payment Plan for OTC ISINs

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Swaps dealers and other financial firms which need international securities identification numbers (ISINs) for over-the-counter derivative contracts will pay for receiving the codes based on one of three new categories they select from a new pricing model released by the Derivatives Service Bureau (DSB), being launched by the Association of National Numbering Agencies (ANNA). The […]

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Regulatory Reg Tech Makeover – Andy Green quoted in TR Article

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The March 13, 2017 Thomson Reuters ACCELUS article by Rachel Woolcot entitled “Regulatory reporting gets regtech makeover; complexity and costs prompts firms to rethink approach” focuses on how technology companies are preparing a new generation of smarter regulatory reporting tools.Retuers Logo

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EMIR, MIFIR, and SFTR – article by Alan McIntyre in “Rocket 9”

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2017 is shaping up as the year of regulatory compliance in Europe. Alan McIntyre’s article “Navigating The Waters of EMIR, MIFIR, and SFTR” in the recent edition of Rocket 9 from The OTC Space  lays out the technical and planning challenges, scope, and overlap between each of the three regimes.

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Variation Margin: Facing the Countdown to March 1

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With less than three weeks left until posting variation margin for uncleared swap transactions becomes mandatory, it’s do or die for fund managers still scrambling to be ready by March 1. As FinOps Report went to press, the US Commodity Futures Trading Commission (CFTC) said in a no-action letter that it would not take any […]

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The Rise Of RegTek Solutions – Featured On The OTC Space

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The February 14, 2017 version of The OTC Space features an article by Lloyd Altman entitled “The Rise of RegTek Solutions”. Lloyd-Headshot

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EMIR Trade Reporting at 3 Years

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A year ago there were several articles and posts marking the 2nd Anniversary of EMIR Trade Reporting, which went live on 12th of February, 2014.

This year, perhaps because of all of the focus on getting ready for MiFID II/MIFIR, it seems like everyone has forgotten to say “Happy 3rd Birthday, EMIR Reporting”!

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