Capital Markets Advisors

Turning Change Into Opportunity

logo

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 »

Categories: News

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 »

Categories: News

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 »

Categories: News

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 »

Categories: News

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 »

Categories: News

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 »

Categories: News

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 »

Categories: News

Author: Fiona Maxwell Source: Risk magazine | 01 Jul 2014 The DTCC is taking nearly a month to match inter-repository trades, and corporates are concerned that they will shoulder the blame The Depository Trust & Clearing Corporation (DTCC) is taking nearly a month to match derivatives trade reports sent to different trade repositories – a situation that is worrying corporates, who are concerned about possible regulatory sanctions. Since February 12,… Read More »

Categories: News

June 18th, 2014: Global derivatives regulation is a disaster, suggests George Bollenbacher, associate partner, Capital Markets Advisors, because the G-20 left it to each country to govern its own path to reform. And regulators dropped the ball from the start with reporting, which should have played a major role in delivering global transparency to the opaque market. Bollenbacher and TABB Group analyst Colby Jenkins examine the disparate reporting requirements in… Read More »

Categories: News

Michael Zimits on Systematically Important Financial Institutions (SIFI) April 24, 2012: “The FSOC will ask for how non-exchange traded securities are valued, which includes the pricing models and inputs as well as an audit trail proving the source of the data. Knowing that the data is accurate will also go a long way to proving that any risk metrics you have offered are valid before you come up with the… Read More »

Categories: News
  • Connect With Us

    Visit Us On FacebookVisit Us On TwitterVisit Us On Linkedin