United Kingdom
Brexit: banks take the ‘no’ out of novations
Swaps clauses stop end-users blocking counterparty switch, making it easier to move trades to EU affiliates
A Brexit financial services deal and the 12 tasks of Hammond
UK call for turbo-charged equivalence with the EU faces big hurdles
European legislators to exempt CCPs from new bank rules
Support in Council and Parliament suggests leverage ratio, NSFR exemptions will be in final text
LME CTO leaves, Cogolludo to head Citi commodities, and more
Latest job changes across the industry
BoE to authorise EU CCPs ‘at 00:01’ on Brexit day
Central bank hopes plan to preserve access for EU CCPs will be reciprocated
Mifid drives ETF trading on to platforms
Best execution rules push Tradeweb ETF volumes up 32%, but smart order routers may alter trend
EU market abuse rules could trip alternative data users
Regulators might treat some new datasets as inside information, lawyers say
Credit data: Brexit gloom lifting for UK companies?
David Carruthers of Credit Benchmark looks at the most recent trends in bank-sourced credit data
Pensions shackle UK to RPI linkers, say traders
Carney’s call to end use of flawed inflation index faces obstacles
FRTB: banks grapple with hard-to-model risks
Swiss, UK bank efforts to comply with regulators’ risks-not-in-VAR rules may be undone by transition to FRTB
EU regulators urged to give guarantees on Brexit transition
UK banks and insurers want legal protection in case a political deal breaks down
EU lawmaker wants cost-benefit analysis of rejecting a CCP
Hübner says adaptation period may follow decision to deny recognition to non-EU clearing house
FCA system failure throws Mifid data into doubt
Esma could be left with an incomplete list of instruments subject to reporting requirements
Industry slams ‘unhelpful’ last-minute Mifid LEI relief
Esma’s six-month respite “too little, too late” to avoid no-trade lists on January 3
EBA steps up bonus cap pressure on Dutch prop traders
Dutch regulator told to “pay attention” to pay rules EC plans to scrap for non-banks
EU shuts door on foreign electronic access providers
US FCMs could be barred from providing direct electronic access as member states bow to Esma
Only 1% of bonds caught in first wave of Mifid transparency
Trax estimates 5% of corporate bonds will be subject to full transparency after four-year phase-in
Carney: conduct risk failings could spark capital add-ons
Senior Managers Regime is helping BoE identify cultural weaknesses at individual firms, says governor
Esma guidance on swaps transparency still leaves questions
Volatile instrument attributes removed from transparency determination, but further issues remain
Esma navigates a Brexit maze over equivalence
Regulator offers share-trading reprieve for EU firms without relaxing rules for UK
Nex’s Spencer on tech, Brexit and the UK’s identity crisis
Risk30: Icap founder fears return of exchange controls under a Labour government