London-based vendor Squawker’s Equity Finance platform has completed its launch phase and has been deployed at six of the top 10 global investment banks in large part because the platform provides an alternative for investment banks that usually book trades via manual processes and over-the-counter (OTC) against interdealer brokers, officials say. Three more major banks… Read More >>
CloudMargin & SmartDX Tackle the Variation Margin Rule
Variation Margin Rule Takes Effect March 1 CloudMargin, at web-based collateral and margin management solution, and SmartDX, which provide trade and relationship document generation, collaboration and processing announced that they have partnered to address the daily variation margin (VM) rule that goes into effect March 1 in the European Union, United Kingdom, United States and… Read More >>
ANNA Mulls Fee Structures for Derivatives Service Bureau
The Association of National Numbering Agencies (ANNA), the umbrella organization for national numbering agencies, has launched a fee model consultation for its Derivatives Service Bureau (DSB), which operates on a cost recovery structure. ANNA officials describe the DSB as an “automated generator” of International Securities Identification Numbers (ISINs) for over-the-counter (OTC) derivatives, slated to go… Read More >>
Special Report: Coping With the Challenges of Regulatory Reporting
In this special report, FTF News delves into the many challenges that global financial services firms face when they have to meet the multiple, complex and sometimes overwhelming requirements of regulators overseeing major financial markets. As financial reform has taken root since the global financial crisis, regulatory reporting to multiple authorities across many geographies has… Read More >>
ESMA Amendments Provide Relief via MiFID II
The European Securities and Markets Authority (ESMA) recently issued amendments to its draft Regulatory Technical Standards (RTSs) under the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) that should give firms, especially those that trade less frequently, more breathing room. “The amendments are designed to respond to the legitimate concerns of the European… 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 >>
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 >>
MiFID II Delay Causes Joy and Frustration
As expected, the European Commission has approved a one-year extension for compliance with the revised Markets in Financial Instruments Directive (MiFID II), and while some firms are relieved others are frustrated by the “hurry up and wait” dynamic. The delay is intended to give more time to industry participants grappling with “the exceptional technical implementation… Read More >>
CFTC Designates NFA as SDR Data Recipient
CFTC Designates NFA as SDR Data Recipient The CFTC issued an order authorizing the National Futures Association (NFA) as “a designee to receive access to data maintained by swap data repositories (SDR),” officials say. The NFA is touted by the CFTC as the “only registered futures association (RFA)” actually registered with the commodities regulator. “As… Read More >>
Orc Adjusts Wares for MiFID II and MiFIR
Stockholm-based Orc, a specialist in electronic trading technology for listed derivatives, reports that it will offer an “expanded trading solution and expert services offering to address new requirements arising from updated European market regulation.” Specifically, the new regulations include the revised markets in financial instruments directive (MiFID II) and the new MiFIR regulation that will… Read More >>
