March 9, 2012
Weekend Reading & Derivatives News Roundup
It's been a busy week for news in the OTC derivatives space and for those keen on industry papers there has been plenty ofreading material published over the last few days. Here is a summary of some key papers published recently and a collection of what I view to be the top stories of the week. too.
ESMA this week published a discussion paper (jointly with the ESAs) on the draft regulatory technical standards for EMIR. This paper reviews the ideas ESAs are considering as draft regulatory technical standards. Together with this joint discussion paper, the European Banking Authority (EBA) published a paper of the regulatory technical standards for the capital requirements for central counterparties (CCPs).
Market participants can listen to the recording of the open hearing on EMIR (held March 6th) or can submit input via the website.
Bank for International of Settlements (BIS)
On the collateral front, BIS also published a paper on the collateral requirements for a mandatory central clearing of OTCs derivatives. See the paper for details for insight into estimates for collateral amounts CCPs should demand as well as other information and findings.
Financial Stability Board (FSB)
The FSB published an announcement on the technical features of a couple points regarding Legal Entity Identifiers (LEIs) with the aim of giving early guidance to the industry. Subject to confirmaton, the FSB states the six data elements will be part of the reference data attributes for the identifier including:
- the name of the legal entity
- the address of its headquarters
- the address of legal formation
- the date of first LEI assignment
- the date of last LEI update
- the expiry date
For those new to LEIs, we have a podcast on the usability of this new standardised code as well as an update on LEIs from Karla McKenna in DerivSource's online magazine - The Source.
Finally, here is my roundup of the top derivatives news this week including the breaking news today that LSE has bought a majority stake in LCH.Clearnet.
- BNY Mellon Enhances AccessEdge Collateral Management Portal
- Financial Firms can Maintain Profitability by Optimising Collateral, Regulatory Capital and CCP Selection
- Hong Kong Exchanges and Clearing Limited’s New CCP, OTC Clear, Clears First OTC Derivatives Trade Using Calypso Technology
- Markit and HKEx Connect for OTC Rates & FX Clearing
- FpML - a New Version for a Growing Role in Derivatives Processing and Reporting Post Crisis
- All Topics
- CFTC to Publish Federal Register Notice Seeking Public Input on Areas of Rulemaking to Implement the Dodd-Frank Wall Street Reform and Consumer Protection Act
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