April 5, 2012

Survey on the the changing landscape for Sell/Buy Side by Rule Financial

In case you didn’t spot it, Rule did a survey which sets out how firms are reacting to regulatory change, you can request your copy via their page here, or download here.

Key findings:

  • 90% of dealers intend to offer client clearing within 12 months
  • 90% of dealers intend to offer a cross-asset margin call within 12 months
  • 90% of dealers intend to provide a single margin statement within 12 months
  • 90% of dealers intend to offer an indicative CCP margin calculation within 12 months
  • 66% dealers will compare / reconcile / verify the CCP margin numbers
  • 90% of dealers will offer collateral transformation within 12 months
    • So we can be pretty sure the dealers all have the same idea on what to offer the buy-side
  • A number of buy-side firms expect ICE to offer clearing of rate swaps, options, FRAs, and NDFs.
    • Which is something ICE probably didn’t know themselves
  • 70% of dealers and only 50% of the buy-side need greater clarity on the new regulations
  • 80% of the buy-side won’t have figured out their new business process models soon – some say they’ll leave it to next year
  • 100% of dealers say they will have implemented their new business processes in 2012
  • The buy-side intend to outsource collateral management more than they do now, either to a TPA or PB organisation
  • 9 out of 10 cats said their owners preferred the old way of doing things



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