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Tag Archives: IOSCO

Tokyo Stock Exchange takes aim at Japan’s corporate ghosts; U.S. Default? Unlikely, But Bond Traders Are Taking No Chances; Deutsche Börse CEO Looks to Cut Deal John Lothian Newsletter,Newsletter

Tokyo Stock Exchange

First Read Hits & Takes Our video today from MarketsWiki Education World of Opportunity Chicago 2017 features NFA President and CEO Tom Sexton.~JJL There is a signup form on the Upcoming Events page of the MarketsWikiEducation.com site for college students to sign up for our MarketsWiki Education Recruiting event on the afternoon of October 16 at the CBOE.~JJL Spencer Doar, Mike Forrester and John Lothian will be in Washington, DC from September 12 to 15 for the Securities Traders Association annual regulatory conference.~JJL Today we have a blog from Jim Falvey about cryptocurrencies and distributed ledger technology. See it below.~SR…

John Lothian Newsletter: VCs Hunt for the Next Unicorn on Snapchat; Citadel’s Ken Griffin: Hedge fund talent is there to snag; Germany’s School for Central Bankers Draws Risk-Averse Crowd John Lothian Newsletter,Newsletter

First Read Half Full: Trade Alert’s Schwartz Says Options Industry Has Growth OpportunitiesJim Kharouf, JLNToday’s options market is a mixed bag of some strong products gaining traction but, in general, the industry has slowed dramatically over the past decade. Henry Schwartz, president of Trade Alert, speaking at the 34th Annual Options Industry Conference in Palos Verdes, California on Wednesday, told the audience that options industry volume growth has slowed from 14.7 percent over the past 20 years, to 8.5 percent over the past 10 years, to just 2 percent in the past 2-year period. Schwartz attributed the slowdown over the…

SDR 2.0: CME Group’s Jonathan Thursby Looks at the Future of Swap Data Repositories Regulation,Video

Over the past 18 months, the OTC derivatives world began mandatory reporting into trade repositories. Now that we have had some time to work through the logistics, it is time for a rethink. Jonathan Thursby, Global Head of CME Repository Services, says the CFTC and global regulators are looking at revisions to the rules, and he lays out his wish list for a new and improved framework. “We started out with ‘one-size-fits-all’ for both the cleared and non-cleared markets, and there is a recognition that you need different types of reporting structures for different types of clearing structures,” says Thursby….

ISDA’s Robert Pickel Discusses the Future of Financial Benchmarks (Part 2) Interview,Regulation,Video

Robert Pickel

After the financial crisis in 2008-09, regulators across the globe set in motion a complete overhaul of the financial markets, with the ultimate goals being transparency in the previously unregulated swaps market, and ensuring that there is adequate collateral backstopping the sector in the event of financial shock. The top items on the list were central counterparty clearing of swaps, the exchange of initial and variation margin among parties to non-cleared swaps, and the reporting of trade data to central repositories, so that market overseers can identify risks that may be building in the system. See part 1 of our…

ISDA’s Robert Pickel Discusses the State of Cross-Border Regulation of Swaps (Part 1) Interview,Regulation,Video

Robert Pickel

After the financial crisis in 2008-09, regulators across the globe set in motion a complete overhaul of the financial markets, with the ultimate goals being transparency in the previously unregulated swaps market, and ensuring that there is adequate collateral backstopping the sector in the event of financial shock. The top items on the list were central counterparty clearing of swaps, the exchange of initial and variation margin among parties to non-cleared swaps, and the reporting of trade data to central repositories, so that market overseers can identify risks that may be building in the system. See part 2 of our…

Walt Lukken and Anthony Belchambers Discuss the Newly Announced FIA Global Interview,Options,Regulation,Video

Walt Lukken and Anthony Belchambers

The long rumored merger between the Futures Industry Association (FIA) and Futures & Options Association (FOA) was finally announced last month at the IDX Conference in London. The newly merged entity, called FIA Global, will serve as the international umbrella group for FIA, FIA Europe (formerly FOA) and FIA Asia. John Lothian News editor-in-chief Jim Kharouf spoke with FIA president and CEO Walt Lukken and FOA CEO Anthony Belchambers at the IDX conference in June about the merger, why they decided to make the move and what it brings to their memberships. With the new entity, executives say they will…

John Lothian Newsletter: Traders boycott CME Eurodollar options; Clearing houses face capital stress tests; Senators defend CFTC in court over position limits John Lothian Newsletter,Newsletter

Independent traders at CME Group put hands in pockets on Friday and refused to trade Eurodollar futures in protest against private block trades. New global clearing house rules from IOSCO prescribe large capital buffers and stress tests. In the USA, senators have filed a brief in support of the CFTC’s efforts to impose position limits in the oil market. SIX Group in Switzerland says they’ve got a billion Swiss francs in a suitcase and are looking for something good to buy. In the top box, Nicole Rohr provides commentary from last week’s gold conference in New York, and an interview…

John Lothian Newsletter: Brokers and exchanges set for FX clearing; Call to adopt US flash crash reforms globally; Greek Deal Highlights Flaws in Default Swaps John Lothian Newsletter,Newsletter

Brokers, exchanges and clearing houses are ready to start with new FX clearing rules. IOSCO says that regulators around the globe should implement flash-crash-related regulatory reforms that the USA put in place… though, hopefully, IOSCO is specifically targeting the sensible ones that made a difference. Greece gets paid, but some analysts see a broken swaps system. In the top box, John Lothian returns from Boca Raton with an overview of the FIA proceedings; Cinnober and NYSE Euronext get awards; and there’s lots of discussion regarding financial regulation and muppets, both individually and collectively.