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Here’s What Analysts Are Saying About the First Round of French Elections; Charts Show Traders Writing Down Chances of a Le Pen Presidency; OCC seeks leverage ratio relief as liquidity shrinks John Lothian Newsletter,Newsletter

First Read The future of futures markets: Exchanges looking to fail fast By Jim Kharouf, JLN Andreas Preuss, deputy CEO, Deutsche Boerse had a show stopper. At the IOMA: World Federation Exchanges conference in Frankfurt on Friday, he said his exchange will have to speed up its business processes exponentially in the next two to three years in order to thrive. Implementing products and services from beginning to release will go from today’s 18 months to 4 days. Yes, you read that correctly. And no, no one in the audience was laughing. “The old way was seven months of iterations…

A Basel netting issue: Pushing for less burdensome capital requirements in the options market Exchanges, OTC & Clearing,Feature,Mwiki,Options,Regulation,Regulation & Enforcement

The unintended consequences of financial regulation have been seeping into the markets since the first rule was made in the wake of the financial crisis. One prime example is the leverage ratio, which determines the required capital of general clearing members. The actual calculation of the capital requirement within the Basel III leverage ratio framework is a particular sticking point for the OCC. Right now, the Current Exposure Method (CEM) is used in the calculation, whereas the OCC and a wide swath of industry participants believe that the Standardised Approach for Counterparty Credit Risk (SA-CCR) would better encapsulate the nature…

FIA’s Walt Lukken on Reg AT and the 2016 Agenda Blog,Regulation,Video

Walt Lukken, president and CEO of the FIA, spoke with JLN about what is in store for the rest of the year at the trade organization. The FIA has been coordinating with 10 working groups on what upcoming rules about automated trading (Reg AT) should look like for the futures industry. Lukken said that the FIA believes it would be best to break Reg AT into two more manageable parts.  The first portion would focus on getting pre-trade risk controls up to snuff, and the second part would delve into the more contentious parts of Reg AT, such as definitions…

JLN Financials: Ukraine Central Bank Raises Key Rate to 30%; The 15 Most Miserable Economies in the World; Corporate-Bond Market Poses Systemic Risk Financials,Newsletter

First Impressions Making It Attainable: RCM Buys Attain To Broaden Managed Futures Reach Jim Kharouf – JLN RCM Asset Management pushed further into the managed futures space today with the announcement it has acquired Attain Capital Management. With the move, RCM aims to strengthen its education offerings and broaden its customer base. “Things that they do very well, RCM does not do well or at all. So the combination of the two firms will really enable us to further our reach in the space,” said Bobby Schwartz, CEO and managing director at RCM. Attain, which started in 2002 offering trading…