Safekeeping Questions

09 Jun, 2015

The £126 million fine levied by the UK Financial Conduct Authority (FCA) on BNY Mellon in April for breaches of the rules on the safekeeping of client assets was the latest in a series of similar sanctions.

CCP Battle Drags On

The prolonged transatlantic battle over the mutual recognition of central counterparty clearing houses (CCPs) reflects deep differences over the costs of resolving a failing C

Posted on: 09 Jun, 2015
Posted in: Regulation

Equivalence in European and US clearing rules

The European regulator, ESMA (the European Securities and Markets Authority), has so far deemed the rules and their regulatory outcome around central clearing to be equivalent to its own standards in Japan, Singapore, Australia and Hong Kong, with the frameworks in Canada, Mexico and India expected to follow shortly. The big name missing from this list is the US.

Posted on: 18 Mar, 2015
Posted in: Regulation

European regulators advise CCPs to review their TLAC processes

The European Commission and other global regulators are assessing the options by which to deal with the failure of a central counterparty clearing house (CCP).

Posted on: 04 Dec, 2014
Posted in: Operational Risk

IBOR could help avert a collateral squeeze

Buy-side firms have been urged to embrace the Investment Book of Record (IBOR), a single source of portfolio calculations across asset classes, if they are to avoid a potential collateral squeeze once the mandatory clearing of over-the-counter (OT

Posted on: 01 Sep, 2014
Posted in: Technology

Buy-side struggling to report collateral data to repositories on bilateral derivatives trades

The buy-side is struggling to report details of the collateral of their non-clearable derivatives transactions as mandated under the European Market Infrastructure Regulation (EMIR).

Posted on: 18 Aug, 2014
Posted in: Regulation

Citi paper warns hedge funds on collateral management and rising financing costs

Hedge funds must optimise the way in which they manage their collateral following reforms of the over-the-counter (OTC) derivatives markets while the cost of financing is going to rise exponentially in light of Basel III capital requirements, a ne

Posted on: 01 Jul, 2014
Posted in: Prime Brokerage

ESMA must issue guidance to enable inter-TR reconciliations

The European Securities and Markets Authority (ESMA) needs to issue guidance to trade repositories to enable them to better reconcile trades, according to the Futures Industry Association (FIA), an organisation that works with firms engaged in der

Posted on: 12 Jun, 2014
Posted in: Regulation

Interview with Richard Glen of Clearstream

COOConnect spoke to Richard Glen of Clearstream banking about outsourcing collateral management to a third party and the risk surrounding CCPs.

Posted on: 08 Jan, 2014
Posted in: Video Features

Swaps versus futurised swaps

The idea of a futurised swap is simple enough. It is a product with similar economic characteristics to an OTC swap that can be traded and cleared like a future.

Posted on: 02 May, 2013
Posted in: Regulation
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