Trading

Derivatives Markets Rebound in 2014

The derivatives market has seen an upturn across the board this year and participants can expect even better fortunes in 2014, according to a panel at FOW's Derivatives World London: The Debates. FOW Intelligence: Derivatives Markets Rebound in 2014.

 Banks Poised to Reduce Rate-Swap Trading as Revenue Seen Reduced

Dealer revenue from negotiating interest-rate swap transactions is poised to plunge about 45 percent as new rules boost trading costs, pressures that may prompt banks to participate less in the $633 trillion over-the-counter derivatives market, Tabb Group LLC estimates. Bloomberg:  Banks Poised to Reduce Rate-Swap Trading as Revenue Seen Reduced.

3 Challenges Shaping the Competitive Future of US Swaps

With the bulk of compliance deadlines now completed and new volume and revenue data starting to roll in, the future of the US swaps market is beginning to emerge. How dealers respond to these three challenges will largely determine the winners and losers. Tabb Forum: 3 Challenges Shaping the Competitive Future of US Swaps.

Key Themes for Investment Banking in 2014 and Beyond

There was some interesting research published last week, that looked at the key themes for Investment Banking for 2014 and beyond. Single Dealer Platforms: Key Themes for Investment Banking in 2014 and Beyond.

Reg Cap Swaps Trades Evolve

Investment banks are finding it increasingly difficult to secure regulatory sign-off to reduce the vast sums of capital they are forced to hold against derivatives exposures under Basel III. IFR: Reg Cap Swaps Trades Evolve.

 What Next After SEFs?

Just finished listing to an interesting webcast on Global OTC market reforms, and where next after the US and SEFs? Single Dealer Platforms: What Next After SEFs?

CFTC Seeks Public Comment on Certification from Bloomberg SEF LLC to Implement Available-to-Trade Determinations for Certain Interest Rate and Credit Default Swaps

CFTC Press Release: CFTC Seeks Public Comment on Certification from Bloomberg SEF LLC to Implement Available-to-Trade Determinations for Certain Interest Rate and Credit Default Swaps.

Crunch Time Over Sefs as Asian Banks Weigh Up Costs of Participation

Trading on swap execution facilities started in earnest in October, but two months later Asian institutions are unclear what it actually means for them. What steps are they taking to adapt to the new set of challenges that Sefs bring? Risk: Crunch Time Over Sefs as Asian Banks Weigh Up Costs of Participation.

Post-Trade Processing 

European Trade Reporting: Competitors Emerge Ahead of Compliance Deadline

The emergence of an independent trade reporting company aimed at corporate and buy-side accounts in Europe is the latest sign that the market is finally gearing up for implementation of regulations aimed at derivatives trades. Tabb Forum: European Trade Reporting: Competitors Emerge Ahead of Compliance Deadline.

Get the Whole Story Straight for Trade Repository Reporting

There may be two sides to many stories. But not in the newly centralized world of derivatives trading, where regulators are demanding one complete and accurate version of events for all contracts. Tabb Forum: Get the Whole Story Straight for Trade Repository Reporting.

Compression, SDR and TrueEx SEF

My interest in writing this article was sparked by the 11 December press release from TrueEx announcing trades executed on its Portfolio Terminations and Compactions platform. So I decided to look at the past 3 days of data from the US DTCC SDR. ClarusFT: Compression, SDR and TrueEx SEF.