OTC derivativesRSS

EU Commission mandates OTC derivatives clearing

The European Commission has introduced mandatory clearing for OTC derivatives

The European Commission has adopted new rules that make it mandatory for certain OTC interest rate derivative contracts to be cleared through central counterparties.

GMEX signs Bank of America, prepares for launch

GMEX is headed by Hirander Misra (pictured) and Vj Angelo

International derivatives market GMEX is due to go live on Friday after more than two years of development. Created by co-founders Hirander Misra and Vj Angelo, the new exchange has just signed Bank of America Merrill Lynch and will start by offering futures contracts backed by German derivatives giant Eurex.

ISDA rallies support for derivatives data reporting rethink

O'Malia: more cross-border cooperation is needed

Eleven financial associations have published their support for a new set of derivatives reporting standards developed by ISDA, which is calling for greater cross-border harmonisation of data standards – even if that means some national laws will have to be amended.

CFTC praises global regulatory harmonisation – just don’t expect uniformity


Global regulators are struggling to find the balance between recognising each other’s existence and learning to harmonise and coordinate their activities, and protecting domestic national economic stability. But people who can’t accept that there will be some differences in regulation between Asia, Europe and the US are not realistic, according to Timothy Massad, chairman of the Commodity Futures Trading Commission.

SEFs face reckoning with unintended consequences warns report

An erroneous trade has resulted in ABN Amro being fined

Like opening Pandora’s box, the emergence of swap execution facilities in US derivatives markets has brought unexpected consequences and problems as well as benefits. In some cases, asset managers are actively looking to avoid trading on the new platforms and even turning to other asset classes, according to a new report by OpenLink.

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.

ASIC consults on OTC derivatives reform

Australia may soon get its own Payments Council

The Australian Securities and Investments Commission has launched a consultation on proposed changes to the trade reporting rules for OTC derivatives, in a move that suggests Australia is learning the lessons of OTC reforms in other countries.

MiFID II headache intensifies as ESMA deadline draws near


MiFID II could cause serious problems for banks, brokers and other market participants in the run up to the January 2017 implementation, according to executives attending a meeting chaired by the European Securities Markets Authority in Paris earlier this week.

Collateral management moves to centre stage

McDermid: collateral management needs to be centralised

Collateral management as it is currently known will no longer exist within a few years as increased regulatory demands, rising levels of automation and growth of industry tools to optimise collateral transform the industry, according to a new survey and report by Sapient Global Markets.

Trade reporting uncertainty raises “multiple problems”

Jude: some clients are finding it hard to understand the new trade reporting rules

Nearly three months after the European Commission’s 12 February deadline for trade reporting, market participants are still not ready to report their derivative trades and serious problems remain with understanding the rules.