JWG analysis. The road to mandate trading of OTC derivatives on electronic trading platforms will be long but, without a harmonised approach on both sides of the Atlantic, the process will be fraught with challenges. Although the core principles and requirements for Swap Execution Facilities (SEFs) were articulated by the CFTC at the beginning of


JWG analysis. EU and US taxpayers scratched their heads in disbelief this week as the regulators made it painfully clear that they have squandered both years and billions with little to show for it. The politicians that gathered in Pittsburgh were quite explicit – they want OTC transparency.  Did they expect that, nearly five years


Working late into Tuesday night, European lawmakers concluded a compromise over the new Markets in Financial Instruments Directive (MiFID II).  The final text has not yet been made public, and is not expected for several days.  However, some details have emerged. Concessions had to be made on both sides, with the Parliament advocating for robust


Newsflash: ESMA and EC EMIR reporting update

By: Sam Tyfield Just in time for your holiday, December has seen a cascade of reporting work from ESMA and the EU Commission on EMIR. On December 20, 2014, ESMA release an updated Q&A on EMIR.  Specifically on ETD reporting, see towards the bottom of the page at the link here (I have cut and pasted the relevant paragraphs below,


2013: A very new year

Five years after the crisis started, real change is finally in store. Who is on the naughty and nice lists? In 2012, the industry saw a flurry of financial sector reforms. With over 140,000 pages of regulation produced over the past twenty four months, an ambitious but often discordant global regulatory framework has developed, leaving