After three years of often bitter political squabbling, the European Commission and its U.S. counterpart the commodities regulator CFTC finally reached an agreement on a common approach to equivalent recognition of central clearing counterparties (CCPs). The two sides, which oversee around 90 percent of the $553 trillion derivatives market, have been at loggerheads over mutual… Read More >>
Why Regulators Are to Blame for the MiFID II Delay
While U.S. and European authorities are finally making progress in harmonizing key rules and regulations, it’s becoming painfully clear that the lack of an initial, collaborative response among regulators to the global recession is hitting home for all securities firms. A case in point is the recently announced (and expected) new deadline for the Markets… Read More >>
Guidelines for T+2 Move in U.S. Due in June
The initial results of the industry-wide initiative for adoption of the T+2 (trade day plus two days) settlement cycle in the U.S. will be outlined in a white paper due out in early June rather than this month, confirms a DTCC official. Last fall, the DTCC and other industry groups unveiled the T+2 initiative for… Read More >>
SS&C GlobeOp Helps Funds Meet AIFMD Deadline
January 2015 marked not only the beginning of a new year, but the beginning of a new regulatory reporting regimen for fund managers — at least for those active in Europe. The January 31 deadline for filing of the Alternative Investment Fund Manager’s Directive (AIFMD) Annex IV reporting requirement was most fund managers’ first brush… Read More >>
Derivatives Markets Fear Fragmentation as Regulators Clash
Financial services firms that participate in derivatives markets on both sides of the Atlantic have found themselves treading difficult water for the past year or so, as regulators have struggled to harmonize cross-border market structure rules and regulations. Industry observers say European and U.S. regulators are on the same page as to the importance of… Read More >>
DTCC Unveils T+2 Steering Committee for U.S.
As FTF News recently reported, many market participants are of the opinion that – following the recent shift to a settlement cycle of trade day plus two days (T+2) in Europe – the same shift is inevitable in the US, which operates on a settlement cycle of trade day plus three days (T+3). Now, with… Read More >>
