New rules for posting initial margin (IM) for bilateral over-the-counter (OTC) derivatives instruments are looming for buy-side firms as vendors, service providers, consultants and others are ramping up their offerings in anticipation of expensive and painful compliance burdens to come. The tougher IM requirements stem from the G20-sanctioned mandates of the Basel Committee on Banking… Read More >>
ESMA Fines DTCC for Trade Repository Shortcomings
Post-trade infrastructure services provider DTCC has been fined nearly $73,000 by the European Securities and Markets Authority (ESMA) for alleged failures to properly offer “direct and immediate access to derivatives trading data” for nine months in 2014. The regulator’s fine of €64,000 (equivalent to 72,907.15 given a 1 EUR = 1.13917 USD rate) is the… Read More >>
AcadiaSoft Unveils Central Margining Hub for Derivatives
Norwell, Mass.-based AcadiaSoft, Inc. reports that it has begun industry testing of its Collateral Hub, which it characterizes as the “first ever Central Margining service for non-cleared OTC [over-the-counter] derivatives.” Twenty-eight major banks are participating in the test of the electronic-margin-management system, AcadiaSoft says, noting that its “new service will facilitate industry compliance with impending… Read More >>
SWIFT Price Cuts Deeper than Expected
SWIFT’s five-year, SWIFT2015 strategy to shrink its pricing for its messaging services has beat the cooperative’s expectations because of “strong” traffic growth, cost controls and pricing schemes, resulting in a 57 percent price reduction expected by the end of this year. Officials from the cooperative announced the strategy result at SWIFT’s annual Sibos gathering, underway… Read More >>
