US position limits reproposed
While we digest the latest editions of MiFID II RTS 20, on the Ancillary Activity test, and RTS 21, on Position limits (more posts later this week on this topic),…
Rush to get position limits approved in the US
While we await the next version of RTSs 20 (Ancillary Activity) and 21 (Position Limits) in Europe, there is an effort by the CFTC to get the US version of…
A regulator reinforces EMIR – and refinements are coming here and in the US
CySEC, the financial regulator in Cyprus, has recently written this letter to local market participants, reminding them of their obligations under EMIR. This includes a reminder of the reporting obligation,…
Study on trade reporting
Sapient have recently published a study which examines the likely rise in costs that could occur due to the ever increasing burden of trade reporting (and other data reporting), arising from…
CFTC still unable to analyse Dodd Frank Swap data
Scott O Malia, the commissioner of the CFTC recently talked of how they are still unable to process and analyse the data they have received under Dodd Frank trade reporting. A…
Impact of SEFs on Non US Markets
See this article on FT.com about the potential issues that will hit EU institutions because of the introduction if SEFs
Article on Futurisation under Dodd Frank
See here for an article on FT.com about how Dodd-Frank has driven the futurisation process in the US. Let us see what happens here, especially in the light of the…
Interesting observations of clearing volumes in the US
See this interesting article by Amir Khwaja of ClarusFT observing CME's increasing clearing volumes on IRS since the mandatory deadline came in under Dodd Frank
European Commission and CFTC reach deal on EMIR and DF equivalence.
The European Commission and the CFTC have today reached a deal on EMIR and DF equivalence. See the press release here. Comments to follow.
Clearing Houses giving rise to more systemic risk
An interesting article in the FT here about the increasing concerns about the move to clearing simply moving systemic risk to the Clearing Houses, rather than banks. If you recall…