European Markets Infrastructure Regulation (Emir)
Perspectives on 2014: Andrew Coyne, Traiana
With less than six weeks to go until European trade reporting requirements come into effect under Emir, getting the necessary plumbing in place must be front and centre for all market participants, says Traiana’s chief executive
Perspectives on 2014: James Kemp, global FX division
As the regulatory pendulum shifts from the US to Europe next year, there will be new challenges ahead, particularly as new trade reporting requirements come into force in February, says James Kemp, managing director of the GFMA’s global FX division
Buy side could miss Emir reporting deadline
Banks are racing to meet a February 12 deadline for trade reporting under European rules, but buy-side firms might not be ready to meet their obligations in time
Rising cost of credit drives corporates back to voice trading
Corporate treasurers have been facing up to the increased costs of hedging as their bank counterparties deal with regulation, but some say rising credit charges are driving them to revert from electronic platforms to voice trading. Joel Clark and Miriam…
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
Lack of Esma clarity delays progress on FX trade reporting
Questions raised by Isda concerning trade reporting workflows have not yet been answered, delaying preparations for the start of mandatory trade reporting early next year
Industry forced to rethink reporting after Esma rejects GFMA proposal
FX participants must reconsider their approach to dual reporting under Emir, possibly at considerable cost to those already building towards the proposed model
Nasdaq OMX awaits regulatory approval for FX clearing
The exchange's Nordic central counterparty has connected to MarkitServ and is awaiting the green light from regulators to clear G-10 and EM non-deliverable forwards and options
Trade reporting is driving FX options out of the US, say dealers
FX options traders looking to avoid Dodd-Frank legislation have been deliberately changing their trading habits to avoid reporting regulation
Esma under pressure to approve FX dual-reporting solution
FX market participants are pressing the regulator to support a proposed solution to the challenge of dual trade reporting without a central infrastructure to issue trade identifiers
Banks struggling with European reporting rules
Reporting infrastructure built to fulfil Dodd-Frank requirements will need to be revamped to meet Emir standards, say banks
Return of currency trends a boon for macro managers, says Insight Investment
The strong currency trends in 2013 have been good news for the asset manager, which uses strategies aiming to generate alpha from currency positions
Traiana launches swap data repository reporting hub
Harmony TR connect provides a single point for connection to the DTCC's swap data reporting systems and other trade repositories
Complexity and costs of clearing continue to cause concern
Mandatory clearing of OTC derivatives could lead buy-side firms to leave a greater portion of their risks unhedged, warn speakers at a buy-side conference in London
MarkitServ partners with Misys to boost FX clearing
Users of the Misys Confirmation Matching Service will be able to use MarkitServ's clearing connectivity to route FX derivatives to clearing houses
Emir clearing deadlines remain a challenge, industry warns
Preparing the necessary documentation for client clearing can take many months and could delay clearing under Emir, warn banks and clearing houses
FX Week Europe: Uncleared FX not necessarily more risky, says BoE’s Cross
Proposed rules could result in relatively vanilla FX products attracting disproportionate margin and capital requirements, says BoE FX division head
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an "Ice Age" in the derivatives market
Bank of England FX committee hears corporate concerns
Rolls-Royce's assistant treasurer presented at the last meeting of the central bank's FX industry committee on the impact of derivatives regulation on non-financial companies
Gazprom Marketing & Trading: Powering up for clearing
Gazprom's UK-based trading subsidiary is hoping not to be hit by a clearing requirement - but has been doing its sums just in case, the company's treasurer, Michael Kawski, tells Lukas Becker
Esma backtracks on indirect clearing
Final rules remove two controversial proposals, but revive regulators' concerns about access to clearing for small firms
Who picks up the tab for regulation costs?
Many buy-side firms expect their banks to absorb the costs associated with clearing and reporting of non-deliverable forwards and eventually forex options. But banks have other ideas, with some already quantifying fairly substantial hikes in…
Esma exemption provides corporate relief
Corporates relieved at Esma clearing exemption, but express concern about uncertainty over uncleared derivatives
DealHub rolls out reporting and clearing platform
FX technology vendor is this week launching its so-called Smart Trade Reporting platform to help clients meet new regulatory requirements