Two Depart from Deutsche Bank’s Top Ranks Jacques Brand, CEO for the Americas since 2012, is leaving Deutsche Bank to “pursue another opportunity,” according to a bank statement. Separately, Georg F. Thoma, a member of the supervisory board and chairman of its integrity committee, has resigned, two years before the scheduled end of his… Read More >>
The Fed’s Quiet Move to Avoid Widespread Panic
Amid all the endless claptrap about interest rates, the Federal Reserve Board quietly this week proposed a rule that might help global markets sidestep widespread panic if a very large institution goes bankrupt and has lots of bilateral derivatives contracts on its books. The proposed rule would delay the immediate cancellation of qualified financial contracts… Read More >>
DTCC and ISDA Bolster Their Boards via New Members
DTCC Elects Three New Board Members The Depository Trust & Clearing Corp. (DTCC) reports that three new members, all senior executives at clearing agencies, have been elected to its board of directors. They are: Lester Owens, managing director and global head of wholesale banking operations at JPMorgan; Paul Simpson, managing director and global head of… Read More >>
ISDA Offers Help for Uncleared Derivatives Margining
The International Swaps and Derivatives Association (ISDA) has published the first in a series of documents to help market participants comply with new margining requirements for non-cleared derivatives, officials say. The 2016 Credit Support Annex for Variation Margin (VM) is described as an update of the 1994 ISDA Credit Support Annex (CSA) that will allow… Read More >>
ISDA Sets 2016 Credit Event Committees
ISDA Designates Groups to Oversee Credit Events The International Swaps and Derivatives Association, Inc. (ISDA) has reported the 2016 composition of its five regional determinations committees (DCs), which are responsible for determining whether a “credit event” has occurred in the derivatives market. The ISDA defines a credit event as either a bankruptcy, an obligation acceleration,… Read More >>
ISDA to CFTC: Exempt SEF-Compliant European Venues
In publishing a set of principles intended to help derivatives trading firms compare U.S. and European Union (E.U.) trading venues, officials at the International Swaps and Derivatives Association (ISDA) are asking that CFTC officials consider a new exemption for established trading venues in Europe. “If EU trading venues are determined to achieve the same objectives… Read More >>
Belated Spotlights for Triad Securities, Linedata and ISDA
One of the reasons that this blog exists is to spotlight items that can quickly hit and then bounce off our radar. Rather than lose them in the flurry of news, I’m going to give them their 140 characters of fame. Triad Securities Expands Brokerage Triad Securities announced last month that it had expanded its managed… Read More >>
BNP Paribas Securities Services to Use SimCorp’s Platform
BNP Paribas Securities to Use SimCorp’s Dimension Platform BNP Paribas Securities Services reports that it has implemented the SimCorp Dimension system to streamline accounting processes for its clients. The firm has implemented the SimCorp Dimension platform to manage its integrated accounting offering “as well as other services in its comprehensive product suite,” according to SimCorp… Read More >>
ISDA and ICE Take On Margining for Non-Cleared Derivatives
A key subsidiary of the Intercontinental Exchange (ICE), the owner of NYSE and other exchanges, has been tapped by the International Swaps and Derivatives Association (ISDA) to help market participants meet new margining rules for non-cleared derivatives through the usage of a crowdsourcing utility. By reaching out in this way, the ICE Benchmark Administration (IBA)… Read More >>
Looking for a Few Silver Linings
For this week’s posting, I purposely tried to find news items that if not necessarily good news had some silver linings of hope and progress. I found three via my random, unscientific search. SEC Achieves Early $30 Million Settlement in Newswire Hacking Case The first piece I hit upon was the news from the SEC… Read More >>
