Futures Industry Association (FIA)
People moves: SocGen changes at the top, new global markets head at HSBC, compliance switch at Natixis, and more
Latest job changes across the industry
Prop traders sound warning over EU capital regime
Non-banks fear topsy-turvy capital requirements under new rules based on clearing margin
CME abandons buy-side direct clearing initiative
CCP shutters plan after feedback from regulators and market participants
Banks scent margin offset in US SA-CCR proposal
US agencies seek comment on whether IM should be recognised in leverage ratio calculations
Brexit: listed derivatives face OTC mutation
No-deal would flip EU27 users into different regime for UK-listed trades
Moving the goalposts: EU fights over prop trader rules
French proposals could drive larger non-banks out of fixed income futures and options
FIA transfer protocol sets Brexit plans in motion
Some banks set to begin transferring clients to EU affiliates next month
People moves: Barclays names ‘digital’ leaders for markets, JP Morgan promotes Fernandes, and more
Latest job changes across the industry
New US buffer triggers fresh focus on CCAR transparency
Banks fear capital volatility and may also push for changes to US G-Sib surcharge
FCMs warn CCPs not to compete on margin
Equity moves in February exceeded margin posted against some cleared products
US clearing banks still push for leverage ratio IM offset
Potential cut in ratio and adoption of SA-CCR not enough to stop shake-out, FCMs warn
LCH margin changes to ease funding stresses, say FCMs
Clearers welcome move to free up excess cash margin and remedy ‘double-dipping’ complaints
Unlucky for some: Europe’s war on 13 Dutch prop traders
Liquidity hit feared as FlowTraders, IMC, Optiver and other non-banks face bank-style capital rules
Mifid II position limits regime faces non-EU reporting woes
Position reports will contain “meaningless information”, experts warn
Singapore to miss out on first wave of Mifid equivalence
New Esma guidance could still allow EU firms to trade Singapore stocks
Fed postpones G-Sib capital change
Industry reprieve granted on proposal that threatens $10 billion capital increase
US regulators approve VM route to capital savings
Guidance tips balance in debate over interest payments in settled-to-market swaps
EU prop firm capital crunch could hit market liquidity
Traders claim they would be put out of business by bank-style capital rules
Bailout obsession holds back US CCP resolution regime
Dodd-Frank leaves legal uncertainty, but proposed alternatives could be even worse
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
Too little, too late: Esma data won’t fix energy firms’ Mifid woes
Data confusion and unworkable exemption timeframe risk commodity market disruption
Deutsche Börse exec backs euro clearing landgrab
Swiss CCP operator Six x-clear defends current equivalence regime
FIA calls for Mifid II transition for commodity firms
Licences required from start of 2018, but underlying data will be missing