Am I a US person? The known unknowns of who’s who for Dodd-Frank OTC
Though it seemed for a while that the US/EU’s ‘path forward’ agreement on substituted compliance might have simplified OTC compliance for the markets, when it came to writing the rules the SEC and CFTC...
View ArticleThe regulatory almanac: The top ten regulatory events of 2013
With no fewer than 70,000 pages of regulation, and some record fines, 2013 will be a year to remember (or possibly to forget) for many financial services professional. And with only four weeks to go...
View ArticleMoving the goalposts: How does the CFTC’s recent announcement change the game...
The OTC trading space is being kept on its toes by the Commodities and Futures Trading Commission (CFTC); recent developments mean that more market participants worldwide are in scope of US derivatives...
View ArticleBanks spared prop trading ‘apocalypse’… for now
Today, a final version of the long-awaited Volcker Rule has been published by the five US agencies involved in its drafting. The rule as finalised is something of a victory for banks owing to multiple...
View ArticleHappy New Year from the CFTC: Delays to swaps rules contain some hidden...
Big changes are happening at the CFTC: With the departure of Gensler, and the swearing-in of acting Chairman Mark Wetjen, everyone knew that there would be a change of approach. However, the scale...
View ArticleAs mandatory SEF trading kicks off, the need for cooperation becomes clear
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...
View ArticleThe OTC forest: seeing the wood for the trees
JWG analysis. “When a tree falls in the woods, does it make a noise?” While some may find the question trivial, it has provided much food for thought for philosophers since it was first raised in the...
View ArticleThe OTC dilemma: is the data awesome?
JWG analysis. There is a new film making the rounds where the evil ‘Lord Business’ locks up all the master builders in a think-tank and uses them to design his empire. Quite apart from giving JWG...
View ArticleRegulatory reporting 2015: recap of the standoff – Part 1
JWG analysis. Catch phrases, like ‘caveat emptor’, have been the rallying cry of the financial industry for millennia. In 2009, the G20 sought to change the status quo by introducing the notion of...
View Article2017: Will your buy-side derivatives trading look good?
JWG analysis. As we pointed out in our third piece on regulatory reporting, and at an Infoline conference for the buy-side this week in London, the overarching question is how will firms’ derivative...
View ArticleKey takeaways from the CFTC’s proposed rules on automated trading
On 24 November 2015, the US Commodity Futures Trading Commission (CFTC) unanimously approved a notice of proposed rulemaking addressing several issues related to automated trading. These proposed...
View ArticleHow to make RegTech Real: Four Policy Initiatives and Recommendations
JWG’s recent series on the emerging regulatory barriers and issues in Fintech, does an excellent job of setting forth the main issues for what is sure to be a busy few years of calibration for...
View ArticleRegulation AT: creating a dialogue on automated trading regulation
The current buzzwords circulating around the media, “digital revolution”, succinctly capture what is occurring in the futures markets. With automated trading now constituting up to 70% of trades in...
View ArticleBanks spared prop trading ‘apocalypse’… for now
Today, a final version of the long-awaited Volcker Rule has been published by the five US agencies involved in its drafting. The rule as finalised is something of a victory for banks owing to multiple...
View ArticleHappy New Year from the CFTC: Delays to swaps rules contain some hidden...
Big changes are happening at the CFTC: With the departure of Gensler, and the swearing-in of acting Chairman Mark Wetjen, everyone knew that there would be a change of approach. However, the scale...
View ArticleAs mandatory SEF trading kicks off, the need for cooperation becomes clear
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...
View ArticleThe OTC forest: seeing the wood for the trees
JWG analysis. “When a tree falls in the woods, does it make a noise?” While some may find the question trivial, it has provided much food for thought for philosophers since it was first raised in the...
View ArticleThe OTC dilemma: is the data awesome?
JWG analysis. There is a new film making the rounds where the evil ‘Lord Business’ locks up all the master builders in a think-tank and uses them to design his empire. Quite apart from giving JWG...
View ArticleRegulatory reporting 2015: recap of the standoff – Part 1
JWG analysis. Catch phrases, like ‘caveat emptor’, have been the rallying cry of the financial industry for millennia. In 2009, the G20 sought to change the status quo by introducing the notion of...
View Article2017: Will your buy-side derivatives trading look good?
JWG analysis. As we pointed out in our third piece on regulatory reporting, and at an Infoline conference for the buy-side this week in London, the overarching question is how will firms’ derivative...
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