The Misys Regulatory Reporting Service (RRS) now offers connectivity to the DTCC’s Global Trade Repository (GTR), giving European corporates, fund managers and smaller banks another option beyond the service’s current link to the Regis-TR repository for over-the-counter (OTC) derivatives reporting mandated by the European Market Infrastructure Regulation (EMIR) legislation. The EMIR rules require all parties… Read More >>
Q&A: No Defined Standards Yet for Derivative Valuations
Manuel Ibarra, who works in counterparty portfolio management at Morgan Stanley, took time out from his schedule to answer FTF News’ questions about the derivatives valuation processes. Ibarra underscores that his answers are his alone and do not reflect the opinions of Morgan Stanley, its parent company or affiliates. Before Morgan Stanley, Ibarra worked as… Read More >>
Derivatives Markets Fear Fragmentation as Regulators Clash
Financial services firms that participate in derivatives markets on both sides of the Atlantic have found themselves treading difficult water for the past year or so, as regulators have struggled to harmonize cross-border market structure rules and regulations. Industry observers say European and U.S. regulators are on the same page as to the importance of… Read More >>
O’Malia Sets the Agenda for ISDA
Scott O’Malia, the relatively new CEO for the International Swaps and Derivatives Association (ISDA), has been on the job for “some five weeks,” and he has been busy. FTF News readers will remember that O’Malia was until recently a rather vocal and active CFTC commissioner who among other accomplishments brought attention to many of the… Read More >>
TriOptima: $500T in OTC Notional Principal Eliminated Since 2003
TriOptima, a provider of post-trade services for over-the-counter (OTC) derivatives, reports that market participants have eliminated $500 trillion in notional principal outstanding since 2003, when it introduced triReduce, its multilateral compression service. That amount in eliminated notional principal outstanding includes “cleared and uncleared trades across a broad spectrum of products including cleared interest rate swaps… Read More >>
New Collateral Rules Shatter an Ops Silo
As collateral management gets greater attention from the front office and regulators, it may cease to be an operational silo governed by the back office as it is at some firms. In other cases, new collateral functions may cause firms to move away from fragmented systems and manual processes, according to a new report from… Read More >>
Ready for a 1,000% Spike in Margin Calls?
A new white paper from the DTCC predicts that margin calls on derivatives could increase by as much as 1,000%. The paper cites regulatory changes that will spur fragmented clearing and a jump in margin calls. With so much that can go wrong, the new clearing regime for derivatives is quickly becoming a major operational… Read More >>
2013: The Year in Ops
Last year was one of two steps forward and one step back as far as post-trade operations. As in previous years, regulatory overhauls particularly for over-the-counter (OTC) derivatives drove operations for the industry while there were some interesting disruptions such as the emergence of FIX for post-trade efforts. What follows is my interpretation of the… Read More >>
FSB Reports Progress on OTC Reform as SWIFT Debuts BIC-to-LEI Mapping
FSB Reports ‘Substantial Progress’ for OTC Reforms The Financial Stability Board reports that “substantial progress” is being made via standard-setting bodies, national and regional authorities and market participants toward meeting the goals of over-the-counter (OTC) derivatives reforms set by G20 Leaders four years ago. However, the FSB would like to see greater acceptance of centralized… Read More >>
DTCC Shuffles Execs as Fundtech Hires from Calypso
DTCC and Deri/SERV Promote for Executive Posts The DTCC will have a new chief financial officer and chief technology officer in September and new leaders for its over-the-counter (OTC) derivatives services unit Deriv/SERV as a result of several internal promotions at the industry utility. Susan Tysk-Cosgrove, the current general manager, settlement and asset services has… Read More >>
