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Author: Mark Pengelly Source: Energy Risk | 11 Jun 2014 A lack of guidance on the swap dealer provisions of the US Dodd-Frank Act is turning compliance into a guessing game for swap dealers such as Cargill Risk Management, suggests the firm’s chief compliance officer in a video interview A lack of sufficient guidance on key provisions of the US Dodd-Frank Act means swap dealers are being left in the… Read More »

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Anish Puaar June 9th,  2014 The attempt by Nasdaq OMX to launch a derivatives market in Europe is a year old and it has been trumpeting its progress in building liquidity. However, data seen by Financial News shows that the majority of its trading in Euribor contracts is taking place in two narrow time windows each day in a way that allows firms to collect a share of the £50,000-a-week… Read More »

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06.04.2014 The majority of buyside firms are considering outsourcing collateral management according to a new survey from Sapient Global Markets, which provides business and technology services for capital and commodity markets. The Sapient Global Markets 2014 Collateral Survey found that 43% of buyside firms are currently using an external collateral manager, as outsourcing can help firms to become compliant with new regulations and reduce cost. The report also said that… Read More »

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DerivSource’s editor, Julia Schieffer, talked to Charley Cooper, senior managing director at State Street Global Exchange about why the custodian bank has expanded its FCM business to include futures execution and further deepen its footprint in traditional prime brokerage territory. Q.  State Street Global Exchange recently announced the expansion of the Futures Commission Merchant (FCM) business to include futures execution. This comes at a time when the derivatives market is… Read More »

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Posted on Thu, May 29, 2014 @ 08:11 AM By Sol Steinberg, OTC Partners Originally published on TABB Forum Even as the CFTC moves to finalize rules governing foreign-based swap clearinghouses and swap execution facilities, the harmonization of global swaps regulations remains a challenge, threatening to further fragment the trading process. With more than 50% of global swaps transactions occurring across borders, harmonizing international rules has been a point of contention… Read More »

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IFR 2035 31 May to 6 June 2014 | By Christopher Whittall Costs associated with running derivatives businesses continue to mount, as the industry gets to grips with the latest addition to the alphabet soup of charges associated with swaps portfolios – Additional Valuation Adjustments, or AVA. Tabled by the European Banking Authority in a consultation paper in December last year, AVA – or prudential valuation as it is also… Read More »

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June 25, 2014 By WILLIAM ALDEN The Securities and Exchange Commission adopted a rule on Wednesday to rein in derivatives trading by foreign branches of United States banks, moving to strengthen oversight of a risky business that helped cause the financial crisis. The rule, unanimously supported in a vote by the agency’s five commissioners, clarifies which foreign subsidiaries need to register with the S.E.C. and become subject to tougher standards… Read More »

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By Philip Stafford, Financial Times European markets authorities have called on their US counterparts to recognise equivalent standards for overseas clearing houses and head off a transatlantic regulatory turf war that threatens to fragment the derivatives market. The European Commission on Friday said it would recognise US rules that oversee clearing houses if the Commodity Futures Trading Commission, the main US derivatives regulator, were similarly flexible for foreign risk management… Read More »

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By Philip Stafford Eleven months on and last summer’s accord between the EU and US over jointly overseeing the derivatives market across the north Atlantic is being severely tested. The heads of both the Commodity Futures Trading Commission and the European Commission have both regularly committed to last July’s “Common Path Forward”. But as new CFTC chairman Timothy Massad meets his European counterpart Michel Barnier this week, it is clear… Read More »

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17 Jun 2014 Procyclicality may not be a word that’s often used in polite conversation – but it is a bad thing. It is a term used by the Bank of England in its review of clearing houses, published in May, and it refers to the tendency of players in a stressed market to behave in ways that make the stress worse. However, the Bank’s proposal to reduce procyclicality within… Read More »

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