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Already complex, swap portfolio management will become less forgiving with the implementation of the next clearing mandate in June.
Earlier, I covered a report to the OTC Derivatives Regulatory Group (ODRG) meeting on resolving the international requirements for derivatives reform that the G20 passed in 2009.
LCH.Clearnet added two new tools to their SwapClear website to help swaps market participants keep up with some of the latest regulatory developments. Click through the links below to try them out:
Faced with intensifying regulatory burdens and a challenging business environment, capital markets firms may find it difficult to drive meaningful change. But now is precisely the time firms need to innovate most.
Weighing in at 200,000 words, the CFTC’s final rules governing the reporting of swaps data transactions isn’t the easiest collection of information to digest. But like it or not, the documents are must-reads for many swaps market participants because they contain dozens of reporting compliance dates that will be phased-in over the course of the year. Thankfully, now there’s an abridged version of the highlights.
Shortly after the CFTC approved Thursday [5/16] the final rules governing swap execution facilities, SIFMA released a statement arguing that the new rules 'will negatively impact investors and hinder the ability of American businesses to manage risk.'
For the third year running, Tradeweb has been named Best Fixed Income Trading Platform at the Financial News Awards for Excellence in Trading and Technology, Europe 2013.
Though central clearing of swaps was intended to reduce counterparty risk, it comes with an unfortunate side effect: It now will take two trades to effect a termination, which threatens to increase operational complexity and risk.
While the US and Europe agreed in July on a ‘Path Forward’ for derivatives reform, European Commissioner Michel Barnier’s request for a delay in the implementation of US rules raises the risk of a breakdown in regulatory harmonization.
The Tradeweb Markets TW SEF and DW SEF platforms will be live on October 2 for credit default swap indexes and interest rate swaps. Recently, the U.S. Commodity Futures Trading Commission (CFTC) has extended the applicability of Swap Execution Facility (SEF) rules for customers that may be trading on our SEFs until November 1.