The European Commission’s recently proposed changes to the European Market Infrastructure Regulation (EMIR) not only makes the legislation “simpler and more proportionate,” but also aims to lift some of the compliance burden on smaller financial services firms, corporates and pension funds. The amendments cover a broad range including streamlined reporting obligations, improvements to the quality… Read More >>
ANNA Advances ISIN Effort for OTC Attributes
ANNA Subsidiary Conducts Industry Outreach A subsidiary of the Association of National Numbering Agencies (ANNA) has gathered feedback on developing over-the-counter (OTC) International Securities Identification Number (ISIN) attributes in order to ease MiFID II reference data reporting. ANNA serves as the registration authority for the ISIN under appointment by the International Organization for Standardization (ISO),… Read More >>
Squawker’s Equity Finance Platform Tackles Manual Processes
London-based vendor Squawker’s Equity Finance platform has completed its launch phase and has been deployed at six of the top 10 global investment banks in large part because the platform provides an alternative for investment banks that usually book trades via manual processes and over-the-counter (OTC) against interdealer brokers, officials say. Three more major banks… Read More >>
Client Cleared Trades Part of Mexican Peso Compression Cycle
In a pioneering effort, client cleared trades were included in a triReduce Mexican Peso (MXN) compression cycle via CME Clearing, according to officials at TriOptima, a vendor offering risk mitigation support for over the counter (OTC) derivatives markets. This latest cycle involved 17 participants, officials say. Client cleared trades are transactions that a clearing broker… Read More >>
Global LEI Overseer Officially Blesses DTCC’s GMEI
The Legal Entity Identifier (LEI) utility subsidiary of post-trade infrastructure provider DTCC has gotten an official accreditation from a global overseer that will boost the number of LEIs in the system and bolster the initiative, says Ron Jordan, managing director, chief data officer at the DTCC. In fact, the blessing from the Global Legal Entity… Read More >>
Broadridge Girds Post-Trade Arsenal via Third Acquisition
Broadridge Financial Solutions has acquired for an undisclosed amount post-trade specialist Message Automation Ltd., making this the third major company purchased by Broadridge in its bid to broaden its post-trade and data analytics capabilities. Broadridge’s previous post-trade related acquisitions were: In June 2016, Broadridge expanded its global securities financing and collateral management capabilities via the… Read More >>
CloudMargin & SmartDX Tackle the Variation Margin Rule
Variation Margin Rule Takes Effect March 1 CloudMargin, at web-based collateral and margin management solution, and SmartDX, which provide trade and relationship document generation, collaboration and processing announced that they have partnered to address the daily variation margin (VM) rule that goes into effect March 1 in the European Union, United Kingdom, United States and… Read More >>
Deutsche Bank Shutters OTC Swaps Clearing for the U.S.
Deutsche Bank ended its over-the-counter (OTC) swaps clearing business for the U.S. market last week because of a streamlining push by bank officials to move out of profit-challenged businesses, according to a source familiar with the situation. For Deutsche Bank and other organizations offering clearing support, the OTC swaps clearing business in the U.S. has… Read More >>
Deutsche Börse Tests Blockchain Waters via Collateral Project
Four international, central securities depositories (CSDs) that are part of the “Liquidity Alliance” (LA) are joining forces with Deutsche Börse to develop LA Ledger, a blockchain/distributed ledger technology (DLT) initiative to ease cross-border mobilization of security collateral. The LA, which includes the Canadian Depository for Securities Ltd. (CDS), Luxembourg-based Clearstream, South Africa’s Strate and the… Read More >>
Global Markets to Brace for E.U. Regs in 2017
(FTF News is sampling the flurry of securities industry predictions that are hitting as 2017 becomes reality and 2016 starts to fade. This review of predictions will be presented in three parts this week. This is the first installment (click here for second installment and here for third installment) and it focuses on what may… Read More >>
