GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Derivs - Regulation

  • Tier two firms have seen an increase in clearing services for over-the-counter derivatives since phase two of the Dodd-Frank rollout started on June 10 as asset managers look to diversify their clearing portfolios out of tier one shops.
  • StoneHedge Partners, the London-based agency brokerage and advisory firm founded by Makram Fares, the ex-co-head of European equity sales and equity derivatives at Nomura, has received regulatory approval from the U.K. Financial Conduct Authority.
  • State Street has joined the ranks of applicants to the U.S. Commodity Futures Trading Commission to become a multi-asset swap execution facility under Dodd-Frank, less than a week before the final SEF rules become effective.
  • A new master agreement governing domestic over the counter derivatives transactions has been finalized in France.
  • Bank Indonesia plans to regularly hold fx swap auctions in a bid to ensure investors there have greater access to fx swaps as hedging tools as more investment capital enters the country.
  • The Singapore Exchange is planning to introduce a more accurate closing price measurement for illiquid exchange-traded funds in a bid to boost liquidity and help investors value their portfolios.
  • GFI Group has applied to the U.S. Commodity Futures Trading Commission to become a multi-asset swap execution facility under Dodd-Frank.
  • The International Swaps and Derivatives Association has published a protocol that allows counterparties in a swap to simultaneously amend the terms of an existing ISDA Master agreement to comply with new regulation imposed by European Markets Infrastructure Regulation.
  • The European Securities and Markets Authority is clarifying when third parties will be required to comply with the European Markets Infrastructure Regulation in a consultation paper on regulatory technical standards for OTC derivatives, central counterparties and trade repositories.
  • We may now be entering the summer lull, with the U.K. roasting in a rare heatwave and much of continental Europe preparing for holidays.
  • Foreign institutions are concerned they will have to enter a foreign financial institution agreement with the U.S., or otherwise suffer a withholding tax on their derivatives transactions, if intergovernmental agreements are not concluded before the implementation date of the Foreign Account Tax Compliance Act.
  • The Australian Council of Financial Regulators is recommending the government enforce mandatory clearing for over-the-counter U.S. dollar, Japanese yen, euro and sterling-denominated interest rate swaps, a reversal from its past stance of a market driven solution to its G20 derivative reform commitments.