Derivs - Regulation

U.S. equity option exchanges are considering a raft of action plans for securities information processors, such as looking at backups in the event of a technological failure.

DTCC Derivatives Repository and UnaVista are among the four trade repositories approved by the European Securities and Markets Authority under European Market Infrastructure Regulation today.

Mark Carney, governor of the Bank of England, and Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation are among the regulators pushing the International Swaps and Derivatives Association to change its master agreement to allow for delays in the closing out contracts when a credit event strikes.

Mark Carney, governor of the Bank of England, and Martin Gruenberg, chairman of the U.S. Federal Deposit Insurance Corporation are among the regulators pushing the International Swaps and Derivatives Association to change its master agreement to allow for delays in the closing out contracts when a credit event strikes.

The U.S. Commodity Futures Trading Commission has issued a letter providing extended relief regarding registered swap execution facilities for fx swaps.

A group of 20 international counterparties in Singapore will start voluntarily submitting trade data for over-the-counter interest rate and credit derivatives traded in Singapore from Feb. 3, 2014, ahead of the mandatory April start for financial firms.

Counterparties may be disincentivized from choosing to segregate their collateral following final rules from the U.S. Commodity Futures Trading Commission addressing the manner in which swap dealers hold collateral for uncleared swaps.

Cantor Fitzgerald Europe and LCH.Clearnet have created the first centrally cleared over-the-counter contract for difference in Europe to accommodate calls from clients for a reduction in risk to CFD providers and regulatory pressure to up the proportion of cleared OTC contracts.

Rabobank has been fined by regulatory authorities for more than USD1 billion in connection with investigations linked to the firm’s historical Libor and Euribor submission processes.

The Joint Associations Committee on retail structured products has urged the Basel Committee on Banking Supervision to be flexible in its point of sale disclosure documents in order to help firms comply with the rules without undermining other guidelines.

The Japan Securities Clearing Corp. is investigating the possibility of clearing cross currency swaps, according to Takeshi Hirano, director, strategic planning and over-the-counter clearing service. If it goes ahead, it would be the first clearinghouse to clear the swaps.

Market officials will meet at a Financial Stability Board workshop next month to discuss the possibility of creating a global trade repository that will collate data from other regional repositories. The so-called “repository of repositories” will be pursued to solve fragmentation issues so that global financial regulators can access information being collected by TRs in other jurisdictions.