Mifid
Progress and peril: Dodd, Maijoor, Pirrong and more on the G-20 reforms
Last year was a landmark for the derivatives reforms laid out by the Group of 20 nations in 2009, with clearing, trading and reporting rules all coming online in the US. But it was also just the start of efforts to co-ordinate and align the rules…
New FCA deadline for power and gas forwards ‘more realistic’, says industry
A decision to delay a deadline for brokers to review their classifications of physically settled gas and power forwards by two months has been welcomed by industry participants
OTFs and Sefs: equivalence in doubt
European legislators are close to finalising their derivatives execution rules, but trading platforms are concerned the OTF framework may be sufficiently different to US Sef rules to scupper any chance of equivalence determinations. By Tom Osborn
Regulators clash on Mifid waivers
Some regulators and brokers have expressed fears that exemptions included in Mifid may mean European rules on trade execution are not equivalent to the US – but a key parliamentarian disagrees
Risk Italia Survey 2013
Italy awaits regulatory clearing certainty
EU energy firms face uphill struggle to comply with market abuse rules
The European Union is implementing new legislation and adopting an increasingly aggressive stance on energy market abuse. But the continent’s energy trading firms face an uphill struggle to comply with the rules. Stella Farrington reports
Cross-border OTC reforms: No path forward
Without working European rules, a system of equivalence testing will fall flat
Draper eyes Invesco ETF expansion into Europe
Power exchange
Stadtwerke München grapples with regulation and risk management
At Stadtwerke München, one of Germany’s largest municipal utilities, many of the issues facing risk management are different from those affecting big commercial energy firms. But concerns about the impact of financial regulation run just as high. Mark…
Energy Risk Europe: Commodity derivatives rules flawed, says SEB’s Iwarson
Derivatives regulation will impede attempts by banks to compete and do lasting damage to European market, says founder of SEB’s commodity business
The future of custody
Sponsored statement: Credit Suisse
European power and gas liquidity hit by Mifid II fears
European energy traders say worries about the impact of Mifid II are chilling activity in longer-dated power and gas
Turning points: Nico Van Wayenbergh, GDF Suez Trading
GDF Suez Trading is already used to coping with financial rules that are soon to be extended to many more European energy traders. Its chief risk officer, Nico Van Wayenbergh, speaks to Gillian Carr
Risk Espana survey 2014: Spanish banks play catch-up as regulation looms
Respondents to Risk España’s survey expect to see declines in over-the-counter derivative volumes as a result of regulation and believe less than half the OTC market’s total notional value will be eligible for clearing
Signs of recovery despite uncertainty
Sponsored forum: Luxembourg
Risk Espana rankings 2013
Spanish fiesta turns cold
Law firm of the year: Morrison & Foerster
OR&R recognises a law firm that successfully guided clients through regulatory confusion and the interpretation of sometimes competing items of financial legislation
Financial transaction tax could raise energy company hedging costs
FTT will increase hedging costs for energy companies and deter them from trading with financial counterparties, firms say
Remit definition of insider information “pretty obvious”, says Acer director
Pototschnig dismisses concerns of energy firms over European Regulation on Energy Market Integrity and Transparency
Mifid obstructing cloud computing at European banks
Vendor contracts may not be flexible enough to satisfy outsourcing rules
Algomi: Former UBS platform guru pushes aggregation
The matchmaker
Mifid delays cause frustration in OTC markets
Delays from the Council of the European Union in finalising its stance on the Mifid review mean the crucial trilogue negotiations are unlikely to commence before the second quarter of 2013