The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) proposals on introducing mandatory clearing and expanding mandatory reporting for the second stage of the over-the-counter (OTC) derivatives regulatory regime is only the next stage of the territory’s staggered approach to implementing new derivatives rules. The actions were expected and sell- and… Read More >>
CloudMargin and Markit Move Valuation to the Cloud
CloudMargin to Feature Markit’s Portfolio Valuation Services The portfolio valuation services of Markit, a financial information services and systems vendor, will become available via CloudMargin, a cloud-based, collateral management software platform, say officials from both providers. The combine services are timed for upcoming requirements on initial and variation margin “within the BCBS IOSCO framework, set… Read More >>
CFTC Designates NFA as SDR Data Recipient
CFTC Designates NFA as SDR Data Recipient The CFTC issued an order authorizing the National Futures Association (NFA) as “a designee to receive access to data maintained by swap data repositories (SDR),” officials say. The NFA is touted by the CFTC as the “only registered futures association (RFA)” actually registered with the commodities regulator. “As… Read More >>
ICE Promotes to Fill Senior Management Posts
ICE Promotes Senior Managers Intercontinental Exchange, Inc. (ICE), the operator of clearinghouses, data services and such exchanges as the New York Stock Exchange, reports the following senior management moves: Ben Jackson, president and chief operating officer (COO) of ICE Futures U.S., has been named to the newly created post of ICE chief commercial officer, where… Read More >>
CloudMargin’s SWIFT Move Pushes Low-Touch Option
Cloud-based collateral management technology vendor CloudMargin reports that it is first such provider to join the SWIFT cooperative, a step that may help the company make its case to firms considering low-touch solutions to meet the non-cleared derivatives margining rules to come. By working with SWIFT, CloudMargin will adopt SWIFT connectivity and standards, says Keith… Read More >>
DTCC Wants to Guide Blockchain’s Future in Ops
The DTCC is embracing with qualifications Blockchain distributed ledger technology and is signaling that settlement may be “an ideal long-term target” if the new technology can mature and scale under the tutelage of the post-trade infrastructure utility provider, which says it “is uniquely positioned to help implement this technology and increase its adoption.” DTCC officials… Read More >>
Wipro to Acquire Viteos Group for $130 Million
Wipro Ltd., a Bangalore, India-based IT management, consulting and business process services (BPS) company, reports that it has agreed to acquire Viteos Group, a business-process-as-a-service (BPaaS) provider for the alternative investment management industry. The acquisition is meant to add the buy-side capabilities of Viteos to Wipro’s existing sell-side credentials, according to a Wipro statement. Viteos,… Read More >>
Firms Risk Falling Behind the New Rules of Collateral
(Securities firms are just beginning to recognize that they have to adapt to the new rules of collateral requirements, according to market research firm Finadium, based in Concord, Mass. The firm recently released a report on the subject, “Service Providers in Collateral Management 2015: A Finadium Survey,” based upon an industry-wide survey of companies offering… Read More >>
New Collateral Management, Margining Rules to Sting as Regulation Takes Hold
Securities firms are going to feel over the coming months multiple stings of regulation via Dodd-Frank, the EU’s European Market Infrastructure Regulation (EMIR) legislation and Basel III that will cause collateral management and margining requirements and calls to skyrocket. So says industry veteran Ted Leveroni, chief commercial officer for DTCC-Euroclear GlobalCollateral Ltd., a joint venture… Read More >>
European Regulator Pushes for More OTC Margin and Collateral Requirements
(Editor’s note: This is the second installment in FTF News’ two-part news analysis [click here to read part one] on the changing regulatory environment for derivatives trading and processing in Europe.) The European Securities and Markets Authority (ESMA) is urging more collateral and margin management requirements as detailed in a recently published set of recommendations… Read More >>
