Securities markets: standing at the crossroads

At the crossroads

Financial technology has the potential to radically transform the securities industry. The fast pace of change could lead to disintermediation, according to an Iosco study.

European Banking Federation pushing for global policy on cybersecurity

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The European Banking Federation (EBF), the Global Financial Markets Association (GFMA) and the International Swaps and Derivatives Association (ISDA) are planning global policy measures on cybersecurity, data and technology through a new set of common principles. In its paper, “International Cybersecurity, Data and Technology Principles”, the organisations want to create a “starting point for dialogue […]

Trade repositories fall short warns CPMI-IOSCO study

CPMI-IOSCO report progress has been made, but trade repositories need work

Just under two-thirds of the world’s top nations in capital markets have now adopted international best practices, according to a new report on financial market infrastructures, but more work is needed on trade repositories.

Market infrastructures must work with tech firms to combat cyber-threats


Financial market infrastructures must work with the “broader ecosystem” to improve the resilience of the international financial system in the face of “inevitable” cyber-attacks. The latest guidance document from the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions – Guidance on cyber resilience for financial market infrastructures – looks to […]

Unilateral regulatory initiatives undermine G20 financial stability goals


Hasty unilateral moves by individual countries could undermine the ability of financial institutions and markets to benefit from new regulations and weaken efforts to improve financial stability, delegates at the BBA conference in London heard yesterday.

Regulators seek input on harmonisation of unique OTC trade reporting identifiers


The Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions are seeking comment on proposals for harmonising the Unique Transaction Identifier used to be used for OTC derivatives trade reporting.

The need for a resilient global network of FMIs

Natasha de Teran is head of corporate affairs at Swift

By facilitating payments, and clearing and settling transactions in the securities and derivatives markets, financial market infrastructures are essential nodes in a complex and ever more integrated international network of capital flows. The consequent inter-dependencies between financial market infrastructures will create new resiliency challenges

Derivatives markets brace for Basel III margin crunch in 2015

commissioner-omalia-portrait-2010 (InnerPortrait) Scott O'Malia CFTC

Derivatives market participants are concerned about the impact of new margin requirements for non-cleared derivatives under Basel III, with a large number unsure whether they will even have to comply with the rules, according to new survey published today by the International Swaps and Derivatives Association.

FX industry calls for greater accountability on IBOR benchmarks

Marshall Bailey,

ACI, the foreign exchange industry body, has called for the adoption of a new Model Code for sell-side and buy-side firms on financial benchmarks, to harmonise codes of conduct and prevent a recurrence of the Libor and other recent rate fixing scandals.

IOSCO final report calls for “evolving” regulation

Madrid-based IOSCO has published its final recommendations on financial services regulation

The International Organisation of Securities Commissions has set out its final recommendations on the integrity and efficiency of markets, calling for regulators to think deeply about the effects of their regulation and keep monitoring the markets regularly to ensure that changes are taken into account.