ESMA Also Blesses ICE Clear Europe The Bank of England (BofE) has just updated its list of U.K. authorized central counterparty clearinghouses (CCPs) to include the authorization of ICE Clear Europe Ltd., officials say. Part of the Intercontinental Exchange, Inc., ICE Clear Europe provides central counterparty clearing and risk management services for interest rate, equity… Read More >>
Sapient’s RegRecon Targets Key Recs Woes
Consultancy Sapient Global Markets says it’s taking on the reconciliation issues of low-match rates and inaccurate regulatory reporting via the launch of the RegRecon middleware that the vendor says will facilitate automated trade matching and reconciliation, break management, and a workflow for resolution. “The regulators require institutions to establish processes for identifying and resolving data… 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 >>
Lack of Global Standards Impedes Trade Repositories: ESMA Report
The lack of global standards in the trade repository space (TR) could hinder the repository process, a finding of the European Securities and Markets Authority (ESMA) in its recently published 55-page 2016 annual report, which outlines its supervisory priorities for credit ratings agency (CRA) governance as well as the quality and data access for TRs…. Read More >>
Sapient Debuts Portal to Compliance Platform
With the official debut of the CMRS Portal, an outsourced, “low-touch” web link, consultancy Sapient Global Markets is targeting smaller securities firms that have a fairly low volume of derivatives trades to report to regulators and other organizations. The CMRS Portal will allow firms to use the services of the established Sapient CMRS (Compliance Management… Read More >>
Survey: Many Firms Still Use Manual Systems for Swaps Ops
Despite multiple efforts to automate the processing of complex swaps, nearly half — 44 percent — of asset managers recently surveyed by FinTech vendor SimCorp say that they rely “mostly or completely” on manual processes for the investment lifecycle. In addition, the survey find that more than 50 percent say that they still need manual… Read More >>
Firms Stung by Costly Trade Reporting
Financial services firms and market participants affected by derivatives trade reporting requirements are finding it difficult – and increasingly costly – to cope with the regulations, according to a new white paper from business and technology services and solutions vendor Sapient Global Markets. In “The Rising Cost of Trade Reporting: Can Firms Afford to Stay… Read More >>
New Collateral Rules Shatter an Ops Silo
As collateral management gets greater attention from the front office and regulators, it may cease to be an operational silo governed by the back office as it is at some firms. In other cases, new collateral functions may cause firms to move away from fragmented systems and manual processes, according to a new report from… Read More >>
Swaps Exchange Hits Milestone as Sapient’s Cloud Links to Clients
Swaps Exchange Processes $100B of Bunched-Order Allocations trueEX Group, the New York-based electronic exchange for interest rate swaps, reports that it has successfully processed more than $100 billion in bunched-order allocations via its newly activated Post-Trade Services (PTS) platform. trueEX’s PTS platform allows buy-side clients and their futures commission merchants (FCMs) to directly allocate executed… Read More >>
