From collapsing equity repo rates to footnote 88, and from the leverage ratio to new clearing house liquidity rules, the year has been full of surprises, many of them unpleasant. By the end of 2013, an industry that had seemed to be back on its feet was...
Adapt and comply
Two years on from its first draft, the Volcker rule is close to being finalised, but some regulators are still trying to close what they see as loopholes – and dealers see as vital freedoms
CFTC makes clear swaps between non-US swap dealers and non-US clients will be caught by Dodd-Frank if they are arranged, negotiated or executed by US personnel
The US Commodity Futures Trading Commission is gearing up for another big fight over position limits, after its original rule was rejected by a federal court. The agency’s latest proposal, released in November, gives market participants little reason...
Sponsored statement: NYSE Liffe
Speaking at Sifma AGM, former US president says OTC market should have been forced into collateralised regime before 2008 crisis
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
Derivatives end-users are pushing back on regulator demands to include temporary stays on termination rights linked to bank resolutions
Regulatory change and tough market conditions are creating deep uncertainty for energy brokers. But Tradition’s Mike Anderson remains optimistic about the business, he tells Stella Farrington
Rules allowing Sefs to make available-to-trade determinations continue to cause concern, but some think an aggressive approach is justified
Single stocks the future?
CFTC puts forward another Dodd-Frank position limits rule, generating concerns among commodity derivatives end-users
Energy Risk looks in detail at the US Dodd-Frank Act and its implications for commodity and energy market participants
Divide and rule
The countdown to mandatory trading on swap execution facilities started last month when Javelin Capital Markets became the first Sef to file a product list with US regulators. Its chief executive, Jamie Cawley, tells Peter Madigan why market participants...
Without working European rules, a system of equivalence testing will fall flat
Hedge fund Houdinis
Sef rules are leading to regulatory arbitrage according to Asia industry players
Insurance Risk’s second collateral management survey in conjunction with BNY Mellon finds more insurers are taking steps to prepare for new derivatives regulation, but concerns about collateral availability are mounting
Europe and the US have launched a number of initiatives as part of their drive to regulate the OTC derivatives markets. Jacqueline Low from the International Swaps and Derivatives Association explains how the organisation has responded with a series of...
Sefs agree a lack of clarity on reporting requirements has created an inconsistent and fragmented view of trading activity
Senior executives at RBS have weighed up the bank's potential exposure to CCPs