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Trade reporting – watch out!
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18 Sep
2014

Trade reporting – watch out!

  • 18th September 2014
  • RegTechFS

JWG analysis. The challenges of gaining oversight over the financial system are not going unnoticed.  We come back from the summer holidays with 5 leading indicators that suggest we are on the brink of bad news.  Bad news that is likely to spread far and wide. Firstly, in a new report, the US Government Accountability Read More

29 Jul
2014

MAR Consultation Papers: an overview

  • 29th July 2014
  • RegTechFS

By Sam Tyfield, Vedder Price. Recently, ESMA published two consultation papers (CPs) on MAR: 1. draft technical standards on MAR (CP1) and 2. draft technical advice on Commission delegated acts (CP2).  The consultation period closes in October 2014. CP1 contains reference to insider trading, buy-backs and stabilisation, market soundings and other issues on which I Read More

13 Mar
2014

The OTC dilemma: is the data awesome?

JWG analysis. There is a new film making the rounds where the evil ‘Lord Business’ locks up all the master builders in a think-tank and uses them to design his empire. Quite apart from giving JWG analysts a lot to laugh about, it’s a useful theme when exploring what is going on with OTC trade Read More

07 Mar
2014

The OTC forest: seeing the wood for the trees

JWG analysis. “When a tree falls in the woods, does it make a noise?” While some may find the question trivial, it has provided much food for thought for philosophers since it was first raised in the early 1700s. The answer to the question relies on one’s assumptions on whether observation is a necessary condition Read More

12 Feb
2014

Trade data: seeing through the smoothie

JWG analysis. When G20 leaders met in Pittsburgh back in September 2009, there was clear consensus on the direction that the financial industry needed to take in the aftermath of the global financial crisis.  Transparency was a key theme. The view was that, by mandating industry-wide reporting obligations for OTC derivatives, regulators would be armed Read More

06 Feb
2014

The OTC mirage: As deadlines near, global trade reporting follies emerge

  • 6th February 2014
  • RegTechFS

JWG analysis. With the 12 February EMIR trade reporting deadline just around the corner, the atmosphere in the derivatives industry suggests just as much turmoil as ever. Issues surrounding LEI registration, UTI reconciliation and trade repository affiliations persist as the rush to comply with mandatory reporting rules begins.  The industry is still grappling with issues that Read More

29 Jan
2014

9 days ’til EMIR reporting go-live: where are you now?

  • 29th January 2014
  • RegTechFS

JWG analysis. With 9 working days to go before compulsory reporting of derivatives trades becomes a daily reality, firms are in the final phases of implementing their individual solutions.  These differ from firm-to-firm, for example some are planning to report in real-time (as in the US), while others plan to report later within the T+1 Read More

05 Dec
2013

MiFID II: Sum of the change requirements equals investor confidence?

Dr Anthony Kirby, Chair MiFID BEWG – E&Y MiFID II will be implemented as both a regulation, “MiFIR” (with direct effect in all 28 Member States), and a directive (requiring transposition into national law). The timing of ancillary measures such as revisions to the Market Abuse Regulation (MAR/MAD II) and the Packaged Retail Investment Products Read More

03 Dec
2013

Moving the goalposts: How does the CFTC’s recent announcement change the game for non-US swaps businesses?

The OTC trading space is being kept on its toes by the Commodities and Futures Trading Commission (CFTC); recent developments mean that more market participants worldwide are in scope of US derivatives rules than ever before.  In our previous piece, JWG analysed the CFTC’s rules on who is a ‘US person’ for their purposes, and Read More