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Tag Archives: ESMA

John Lothian Newsletter: Europe deal will cap ‘dark pools’ trading; EU securities watchdog to keep out of Euronext debate; Bloomberg kicks off electronic MAC swaps trading John Lothian Newsletter,Newsletter

First Read Dear JLN Readers, Happy Friday! Where did the week go? Today is SGX’s last day as guest-editor for the newsletter. It has been fun (too much fun for Mike) and something new for us. 2013 is almost coming to a close but there is never a dull moment in our industry. The past year gave us risk on, risk off, regulatory challenges, and intensified pressure for our industry’s business model to evolve. Here in Asia, the challenge continues to be one of harnessing the secular growth trend, with the futures industry continuing to grow its presence in Asia….

Michael Lacson of SunGard Capital Markets Discusses The Latest Regulatory Technology Interview,Regulation,Video

Michael Lacson

As financial markets reform edges closer to completion, firms in the derivatives space are looking for technology and solutions that will help meet the new reporting and compliance requirements. Michael Lacson, director of presales, Protegent, of SunGard Capital Markets talks about how his firm developed compliance technology to deal with the new financial rules set by Dodd-Frank, as well as ESMA, EMIR and MIFID in Europe and those in Asia. The key, he says, was to find the balance between creating flexible technology that firms can adapt to new market regulation and technology that can be integrated into the back…

Justin Llewellyn-Jones of Fidessa Talks ISVs, Regulation & Technology Interview,Tech / HFT,Video

Justin Llewellyn-Jones, chief operating officer of Fidessa, thinks globally and well, acts globally too. Llewellyn-Jones spoke with JLN editor-in-chief Jim Kharouf about how Fidessa is adapting to the new global marketplace and the demand for multi-asset class platforms and networks. The firm opened new data centers in Chicago, where the firm opened a new office in recent months, another in Brazil to support its Latin American initiatives and India. Fidessa continues to see strong growth in the derivatives space. Fidessa, founded as an equities platform, expanded into the derivatives space eight years ago. With a team imported from the derivatives…

John Lothian Newsletter: Exchange CEOs See Euronext Sale Reshaping EU Equity Market; Hedge Funds Win Collateral Reprieve in SEC Dodd-Frank Shift; UK short-selling suit to test Esma powers John Lothian Newsletter,Newsletter

Industry execs see the possible sale of Euronext as shaking up the exchange balance in Europe. Asset managers get a welcome exception to Dodd-Frank credit-default swap collateral rules from the SEC. In the UK, a lawsuit over short selling rules could be a larger test over the power that cross-border regulators may wield in the future.

Sanjeev Joshipura of the Commodity Markets Council on Dodd-Frank in 2013 Interview,Regulation,Video

Sanjeev Joshipura

Sanjeev Joshipura, president of Commodity Markets Council, talks about how Dodd-Frank rules will impact his membership base. Joshipura talks with JLN editor-in-chief Jim Kharouf about the future of the controversial position limit rule, which was vacated by a US District Court on September 28, 2012. A new position limit rule is expected from the Commodity Futures Trading Commission (CFTC), which will include a cost-benefit analysis. CMC is also focused on the CFTC’s reauthorization this year and the continuation of EMIR regulations. Joshipura also talks about US and EU regulatory harmonization and the challenges facing that goal.

European Swaps Perspective from Alex McDonald of the WMBA Interview,Regulation,Video

Alex McDonald

During 2012 SEFCON III John Lothian News interviewed five key members of the WMBA. Click here to see all the interviews. Alex McDonald, CEO of the Wholesale Markets Brokers’ Association (WMBA), has his eye on both European regulatory reforms such as MIFID, MIFIR and EMIR as well as Dodd-Frank in the US. McDonald spoke with John Lothian News Editor-at-Large Doug Ashburn at 2012 SEFCON III about the need for international standardization on OTC derivatives regulation, as well as the push in the Europe toward a single regulatory structure there and the capital requirements that come with it. The question for…

John Lothian Newsletter: Esma probes agencies’ views on banks; Fed official floats stress tests of money funds; Oslo Børs to cut opening hours John Lothian Newsletter,Newsletter

European regulator Esma takes a closer look at the three largest credit rating agencies, to see if those companies are sufficiently rigorous in their activity. An official in the Federal Reserve suggests expanding future bank stress tests to include sponsored mutual fund data.  In a sign of the “reduced volume” times, the stock exchange in Oslo is cutting back its trading hours in an effort to increase trading volume in the remaining open hours.

John Lothian Newsletter: HKEx Targets Dual-Currency Listings; EU watchdog publishes draft derivatives rules; Libor Guardians Said to Resist Changes to Broken Benchmark Rate John Lothian Newsletter,Newsletter

Hong Kong Exchange, not content to sit around while waiting for the LME to arrive, announces plans to create a stock listing denominated both in HK dollars and the yuan.  ESMA, the EU’s financial regulatory agency, delivers its draft regulations to control derivatives transactions.  Despite allegations of rampant corruption and conflicts of interest in setting the LIBOR interbank lending rate, bankers and regulators are reluctant to make changes to how the rate is set, out of concern that changes may invalidate trillions of dollars worth of contracts based on the rate.

Robert Pickel of ISDA Discusses Dodd-Frank & the Global Picture for OTC Derivatives Interview,Regulation,Video

Bob Pickel

Robert Pickel, CEO of the International Swaps and Derivatives Association (ISDA), sat down with John Lothian News Editor-in-Chief Jim Kharouf to talk about regulatory reforms, swap rules recently passed by the CFTC, the cost of regulation and the global picture for OTC derivatives.