Derivs - Regulation
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Amendments to the trade reporting rule from the Ontario Securities Commission will delay the effective date of the reporting obligation for all counterparties, while also reducing the burden on local counterparties by removing the "fall-back" mechanism.
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A change to the Financial Industry Regulatory Authority’s communication rules relating to the filing and content requirements for retail communications are a positive development for the structured products market, according to lawyers.
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The Securities and Exchange Commission has voted to propose new rules covering record keeping, reporting and notification requirements for security-based swap dealers and major security-based swap participants.
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Robert Pickel, ceo of the International Swaps and Derivatives Association, is set to leave this summer after 17 years at the association.
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The Packaged Retail and Insurance-based Investment Products directive (PRIIPs), which was approved by the European Parliament on Tuesday evening, has been welcomed by the European structured products industry.
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Market participants have called for risk management to be standardised across central counterparties.
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The 3% Basel III leverage ratio is driving a move towards standardization in derivatives that could result in a bifurcation of the market, according to market participants.
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The House Agriculture Committee approved legislation on Wednesday to reauthorize and improve the operations of the US Commodity Futures and Trading Commission, as well as address concerns relating to the protection of end users from market failures.
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The International Swaps and Derivatives Association is working with market participants to develop a standard initial margin model and is looking at the best ways of establishing a margin as a starting point.
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The made-available-to-trade regulation in the US appears to have created smaller, less liquid pools for euro and sterling swaps on swap execution facilities relative to US dollar swaps, according to research from the International Swaps and Derivatives Association.
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End-users have called for exemptions from margin requirements and for the right to trade over-the-counter products, warning that forcing derivatives to trade on an exchange could negatively impact market liquidity and many firms' growth prospects.
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The costs of the trade execution mandate are outweighing the benefits it provides to market participants, according to Stephen O'Connor, chairman of the International Swaps and Derivatives Association.