Our News page provides you access to company press releases, CMA professionals in the news, industry recognition and the CMA company brochure. It also provides access to our thought leaders who regularly contribute articles, blogs, quotes and viewpoints on matters affecting the financial industry. In addition, our News tells you when we’re speaking at industry events. From September 9-11, CMA Partner Michael Hartig spoke at the International Securities Association for Institutional Trade Communication (“ISITC”) conference in Washington, DC presenting about “Preparing for New Regulation”. On October 3 in New York, he spoke about FATCA compliance applied to Corporate Actions at the FTF Conference on Corporate Actions Processing. On October 19, CMA Partner Mike Zimits led a panel on, and spoke about Collateral Management & Risk Management of non CCP-cleared trades at the SCI’s 3rd Annual OTC Derivatives Seminar produced by Structured Credit Investor with co-sponsors CME Group, Bingham McCutchen LLP and InterContinental Exchange “ICE”.
07.25.2014 On August 11, trade reporting requirements under European Market Infrastructure Regulation (Emir) will kick in, requiring firms to report valuation and collateral information, in addition to the basic trade reporting requirement that they have been subject to since February. This puts the onus on buy-side firms to either do the reporting themselves, or delegate it to their sell-side broker. “From a buy-side perspective, a lot of firms thought they… Read More »
By Helen Bartholomew Published July 12, 2014 IFR After a solid first quarter, equity derivatives desks have endured a difficult three months as volumes declined alongside a plunge in volatility, further denting hopes that the business will play a significant role in plugging the revenue gap left by the fixed income slump. As banks prepare to deliver second-quarter results that will struggle to live up to solid first-quarter numbers buoyed by… Read More »
Author: Isobel Wright, Nora Bullock Hogan Lovells explains how alternative investment funds that enter into derivatives transactions may judge the interaction between Emir and AIFMD The European Market Infrastructure Regulation (Emir) came into force on August 16, 2012, and sets out new requirements, including clearing obligations, risk mitigation techniques for uncleared trades and trade reporting, for all over-the-counter derivatives. The extent to which the new requirements will apply will depend… Read More »
By Abigail Moses Jun 23, 2014 12:06 PM ET The International Swaps & Derivatives Association said it was asked to rule whether a clause in credit-default swaps on Argentina has been triggered after the government said it won’t make bond interest payments. Schulte Roth & Zabel LLP, a U.S. law firm, requested the ruling for a “potential repudiation/moratorium event,” according to a letter dated June 20 on ISDA’s website. The… Read More »
Written by: William Mitting Mifid II plans could force thousands of foreign firms out of Europe Provisions within Mifid II to regulate direct electronic access could result in thousands of non-EU firms ceasing trading on European derivatives markets. The European regulator Esma is currently consulting on the technical standards that will form the basis of the implementation of the Markets in Financial Instruments Directive or Mifid II. Central to the… Read More »
06.19.2014 Swap dealers are facing new rules for calculating margin for uncleared swaps, i.e., those swaps that are executed and settled bilaterally rather than being centrally cleared. The Basel Committee on Banking Supervision and the International Organization of Securities Commissions have established a December 2015 deadline for national regulators to come up with rules that conform to guidelines issued by BCBS/Iosco in September of last year for calculation of initial… Read More »
By Simon Johnson, Financial Times Financial shadows are dangerous. Even more dangerous are interactions between poorly understood shadows and essential financial intermediation activities. And most dangerous is when officials and private sector executives encourage a class of transactions that supposedly provide modest risk mitigation, while really building a disguised form of systemic risk on a grand scale. It was not mounting losses at Countrywide, the failure of Lehman Brothers or the… Read More »
A JWG analysis. MiFID I was all about creating a common set of rules for the single market. Along the way, it asked regulators to track market abuse. They duly set up a system of transaction reporting that all feeds into Paris – 70% of it via the UK. Seven years and millions in fines for poor reporting practices later, the system sort of works for spotting bad behaviour. Then,… Read More »
Anish Puaar 12 Jun 2014 LCH.Clearnet has become the first UK-based clearing house to receive approval under incoming European derivatives rules, as the region continues to prepare for the introduction of mandatory swap clearing. LCH.Clearnet Limited, the UK arm of the clearing house which is majority-owned by the London Stock Exchange, is the biggest clearer of interest rate swaps globally and becomes the seventh clearing house to receive approval under… Read More »
Author: Luke Clancy Source: Hedge Funds Review | 12 Jun 2014 Asia-Pacific posited as an attractive location for OTC derivatives as the costs of doing business in the US and Europe begin to mount following regulatory intervention Is Asia-Pacific the new breeding ground for hedge funds? Asia-Pacific-based firms represent approximately 13% of all hedge fund managers tracked by data provider Preqin, although these firms represent less than 4% of total… Read More »
The transition from LIBOR to the Fed-published Secured Overnight Financing Rate (SOFR) or possible alternatives is motivated in large part by the mandated cessation of… Read More »
Building on the success of our first FRTB roundtable discussion held on December 9, 2020, we are offering a very select group of bank dealers… Read More »
FRTB will be far more challenging than traditional risk capital regulations due to the lack of regulatory clarity over the boundaries between banking and trading… Read More »
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