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A common theme emerged on the first day at the Global Derivatives Trading and Risk Management Conference. CVA, DVA and FVA (but also a number of other components) have found their way into pricing and valuation models of financial institutions after…
When listening to the presenters on the “Portfolio Optimisation & Quantitative Investment Summit” at the Global Derivatives Trading and Risk Management event in Amsterdam one could draw such a conclusion.Another is: “Do not worry!”, because, not…
With ESMA’s (European Securities and Markets Authority) regulatory technical standards (RTS) codifying the European Market Infrastructure Regulation (EMIR) into an applicable set of rules entering into force on 15 March 2013, the implementation…
After EMIR, Basel III and Dodd Frank, MiFID II is now on the horizon. Are you keeping up with the latest regulatory developments in the market?Alarmed by the impact of the latest financial crisis, regulators globally have released a set of new…
By Tom Riesack and Ute HerzogIn the ‘new normal’ of highly regulated financial markets, corporate treasurers are feeling the reverberations in their daily activities. Corporates are using swaps to hedge their commercial risks, stemming from…
Meet Joe. Joe is a swaps trader within a small institution that has a straightforward hedging strategy at both the micro and macro level. Being a price-taker, Joe has built and maintained broker relationships that enable him to easily get a swap…
$30,000,000,000,000 - This huge figure is the estimated additional liquidity financial institutions worldwide will need if the current proposal by the International Organisation of Securities Commissions (IOSCO) and the Basel Committee on Banking…
One of the mandates of the 2009 G20 summit was to ensure the electronic trading and central clearing of standardised OTC derivatives. OTC or ‘over-the-counter’ is seen as the antonym to exchange-traded or ‘listed’ in most literature. Now, global…
Just one year ago you were probably aware of ISINs, BICs and/or SWIFT codes. But LEI, USI or UPI would probably have elicited a mere shrug. In the regulated world of OTC derivatives, these acronyms are the foundation for stringent and consistent…
In order to monitor systemic risks as near to real-time as possible regulators have introduced the requirement for market participants to report all OTC derivatives trading activity to swap data repositories (SDR).The aim is to boost transparency…
"Hi Marti, you can say that aloud :) It's quite interesting times. What are you up to currently?"
Collateral: banks, broker-dealers, funds and clearinghouses all need it more than ever. Collateralisation of bilateral as well as cleared OTC trades is essential to ensure a functioning and stable financial market that is able to absorb potential…
After almost two years since the Dodd-Frank Act (DFA) was put on the statute books, the first swap-related articles finally take effect on 12th October this year. Now everyone can be assured they are trading, clearing and reporting under a common…
“[…] The financial crisis that began in 2007 had its origins precisely in over-complex regulation.”These are the wise words of Niall Ferguson, Professor of History at Harvard, speaking at this year’s BBC Reith Lectures. He goes on to cite Dodd-Frank…
Just three years ago the G20 leaders agreed upon a common course to regulate the financial markets, with focus on standardising OTC derivatives. In that time regulators have created the largest reform packages since the dawn of modern financial…
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