Once the fight for new regulations settled down, an unintended victor has emerged: the data and data systems used by today's traders.
With the passage of Dodd-Frank and other regulatory mandates, buyside firms have to focus on the clearing of over-the-counter derivatives. Combined with Dodd-Frank in the U.S. and Basel III and the European Markets Infrastructure Regulation in Europe, the challenges of clearing these trades are more complex than ever.
Clearinghouses guaranteeing trades in part of the $693 trillion swaps market would have to meet new standards to guard against defaults and failure under rules proposed by the U.S. Securities and Exchange Commission.
New rules like the Dodd-Frank Act in the U.S. and EMIR and Basel III in Europe are presenting buyside and sellside professionals with a unique challenge: How do they clear their executed trades in a post-regulatory financial landscape and mitigate their own risk? Traders spoke with the head of American business of LCH.Clearnet for his take on what firms need to do now.
A guide to correspondent clearing firms as presented by Clearing Quarterly & Directory.
Commissioner Scott O'Malia of the Commodity Futures Trading Commission (CFTC) is on a mission. He says the process of writing new over-the-counter derivative contract rules needs more transparency. Over the past year he has repeatedly called for more roundtables and public comment on how rules are written. Why is this important? Because these rules, among other things, will determine which OTC derivative contracts must go through a clearing process and which ones can continue to use the old bilateral, dealer-to-dealer model.
The Chicago-based Options Clearing Corp., the largest equities derivative clearing firm, saw record clearing volumes in the first month of 2014.
Longtime Omgeo CEO and president Marianne Brown has stepped down from the Depository Trust & Clearing Corp. subsidiary and will be replaced by Paula Sausville Arthus.
Hedge fund managers, private equity firms and fund administrators looking to manage incoming and outgoing alternative investment data now have a cloud-based choice from SunGard.
IntercontinentalExchange Group's Trade Vault Europe, its European trade repository, processed roughly 4.5 million trades across energy, agricultural commodities, metals, credit, interest rates and equity derivatives its first day.
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