An interesting report on how investors still rely on sell-side advice and interactions even while swap trading is moving quickly to electronic platforms slipped past me, but it’s worthy of belated notice. The report (issued late last month) from Greenwich Associates, “Interest-Rate Derivatives Sales: Not What It Used To Be, But No Less Important,”… Read More >>
Whirlwind Continues as Standard Chartered Exits Derivatives, Convertible Bonds
Standard Chartered continues to embrace major changes as bank officials announced that the 150-year-old firm is exiting the businesses for equity derivatives and convertible bonds as part of a strategic exit of the institutional cash equities, equity research and equity capital markets efforts underway since this past January. In a prepared statement, bank officials say… Read More >>
GLEIF’s New Rules May Reject Current LEI Issuers
The Global Legal Entity Identifier Foundation (GLEIF) will be taking over the accreditation process for organizations that issue Legal Entity Identifiers (LEIs) via a new program that supersedes the efforts of the LEI Regulatory Oversight Committee (LEI ROC), say GLEIF officials. However, the new accreditation process is retroactive and could mean that some of the… Read More >>
ISDA and ICE Take On Margining for Non-Cleared Derivatives
A key subsidiary of the Intercontinental Exchange (ICE), the owner of NYSE and other exchanges, has been tapped by the International Swaps and Derivatives Association (ISDA) to help market participants meet new margining rules for non-cleared derivatives through the usage of a crowdsourcing utility. By reaching out in this way, the ICE Benchmark Administration (IBA)… 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 >>
CFTC Gives Eurex Clearing More Time for DCO Bid
The CFTC’s Division of Clearing and Risk is giving Eurex Clearing more time in its bid to become a derivatives clearing organization (DCO). The division extended the no-action relief granted in CFTC Letter 14-156 to Eurex Clearing AG (Eurex Clearing) and its clearing members that are U.S. persons (U.S. clearing members), CFTC officials say. With… Read More >>
LSEG, DTCC Join Forces for MiFIR Reporting
The DTCC and the London Stock Exchange Group (LSEG) are partnering to provide clients with a connection to regulatory reporting technology vendor UnaVista’s Approved Reporting Mechanism (ARM), a service that enables DTCC clients to comply with the Markets in Financial Instruments Regulation (MiFIR) reporting requirements, officials say. UnaVista is the LSEG’s hosted platform for matching,… Read More >>
CME Group Partners with Top Index Provider in China
The CME Group, a conglomerate of derivatives marketplaces, and China Securities Index Co. Ltd. (CSI), dubbed the “largest index provider in China,” have begun a strategic partnership that will lead to new commodity indexes, and will pave the way for the listing, trading and clearing of derivatives products based on the commodity indexes to be… Read More >>
Looking for a Few Silver Linings
For this week’s posting, I purposely tried to find news items that if not necessarily good news had some silver linings of hope and progress. I found three via my random, unscientific search. SEC Achieves Early $30 Million Settlement in Newswire Hacking Case The first piece I hit upon was the news from the SEC… Read More >>
ISDA Pushes for a Derivatives Product ID Standard
Derivatives trading advocate the International Swaps and Derivatives Association (ISDA) has launched a symbology project intended to provide an industry-wide, open-source standard to help all derivatives facilities such as trading venues, clearinghouses, repositories and other infrastructures meet regulatory needs. The new industry data project is charged with developing an open-source standard derivatives product identification system… Read More >>
