Spotlight Series: OTC Derivatives Reform
21 February 2013
DTCC vs. CME: A Battle Between Competition and Regulation?
Neal Wolkoff, Richardson & Patel LLP
In determining whether the CME can use the ‘closed access’ model of the futures markets for swaps trades, the CFTC seemingly must weigh the benefits of competition against the need to protect investors. Unfortunately for DTCC’s position, the anti-competitive issues that it raises have little, if ...
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Opinion & Analysis
- Ready or Not, Here Comes EMIR (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- DTCC vs. CME: A Battle Between Competition and Regulation? (Richardson & Patel LLP, Neal Wolkoff) 5 Comments
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Know Your Counterparty
(MarkitSERV, Jeff Maron)
1 Comment
- Swaps Futurization: Issues, Debate, and So Many Open Questions (TABB Group, Larry Tabb) 2 Comments
- Jurisdiction Battles Threaten Swaps Reform (TABB Group, Colby Jenkins)
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Fragmentation of Swaps: The Good, the Bad and the Ugly
(TabbFORUM, Fixed Income 2013: Liquidity, Products, Platforms)
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CFTC Proposal Poses “Monumental” Challenge to FCMs
(John J. Lothian & Co./MarketsWiki, Douglas Ashburn)
- MiFID II Is Coming – Are You Prepared? (Capco, Tom Riesack)
- CFTC May Survey the Market On Proper Controls (TABB Group, Larry Tabb)
- Unintended Regulatory Consequences? The Emerging Market Opportunity (MRV Associates, Mayra Rodriguez Valladares)
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Fixed Income: Evolution or Revolution?
(TabbFORUM, Fixed Income 2013: Liquidity, Products, Platforms)
- Managing Systemic Risk and Complexity: Lessons From the Financial Crisis (Capco, Anshumaan Sindhar) 1 Comment
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The State of Real-Time Swaps Clearing
(CME Group, Mark Cox)
- Commissioner O’Malia Talks Derivatives Reform: Assessing and Improving the Change (CFTC, Scott O'Malia)
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Ending Regulatory Uncertainty
(CFTC, Scott O'Malia)
- Swap Futures: Innovation, or Avoidance? (TABB Group, Will Rhode)
- Lessons in Equity Markets for Derivatives (Fidessa, Steve Grob)
- The Swaps Clearing Mandate: Clues to the Pace of Transformation (TABB Group, Paul Rowady)
- Industry Is Not Prepared for OTC Derivatives Regulation (TABB Group, Les Kovach)
- CFTC Commissioner Jill Sommers Resigns (TABB Group, Valerie Bogard)
- Behind the Lines of the Dodd-Frank Reporting Wars (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 7 Comments
- Examining Real-Time Swaps Clearing: The New Race to Zero (TABB Group, Will Rhode)
- Using the Swaps Data at the DTCC SDR (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 2 Comments
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Swaps: A European Perspective
(Wholesale Markets Brokers’ Association , Alex McDonald)
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Evolution of OTC Products
(Tullett Prebon, Shawn Bernardo)
-
Big Data in Options Markets
(ISE, Jeffrey Soule)
3 Comments
- The Key to Regulating Derivatives Clearing Organizations (MRV Associates, Mayra Rodriguez Valladares) 3 Comments
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The Need for Regulatory Balance
(GFI Group, Chris Giancarlo)
1 Comment
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An Intro to IDBs and SEF Regulation
(ICAP, Chris Ferreri)
- 6 Regulations That Will Cost Financial Firms in 2013 (Misys, Jérôme Lafon and Eleonore de Vial) 3 Comments
- OTC Clearing Part 10: A Corporate Treasurer’s Nightmare (Capco, Tom Riesack and Ute Herzog)
-
The Ticking Bond Bomb
(TABB Group, Henry Chien)
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Dodd-Frank and the Clearing Connectivity Standard
(Sapient Global Markets, Ryan Baccus )
- Clarity on Clearing (TABB Group, Will Rhode) 4 Comments
- Screaming Your Book: ISDA and the Inevitability of Swaps Market Transformation (TABB Group, Paul Rowady) 2 Comments
- OTC Clearing Part 9: Trading Swaps in a Cleared World (Capco, Tom Riesack)
- FX Swaps and Forwards: A Special Case? (John J. Lothian & Co./MarketsWiki, Douglas Ashburn)
- OTC Clearing Part 8: Bilateral Margin Requirements: A Liquidity Vortex? (Capco, Tom Riesack)
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Futures: State of the Industry, 2012
(TABB Group, Matt Simon)
1 Comment
- Is Collateral Scarcity an Opportunity in Disguise? (SunGard, Daniel Parker)
- OTC Clearing Part 7: If They Build It, Will They Come? (Capco, Tom Riesack) 4 Comments
-
Jumping off the Collateral Cliff
(TABB Group, Will Rhode)
1 Comment
- Swaps Dealers Face Conflicts of Interest … or Not (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Evolving Futures Markets Could Squeeze Out Traditional Players (TABB Group, Matt Simon) 11 Comments
- With the Right Tools, Dodd-Frank Can Work (The Depository Trust & Clearing Corp., Larry Thompson)
- OTC Clearing Part 6: The Power of LEIs (Capco, Tom Riesack) 3 Comments
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Exploding the Top Three Urban Myths about the Derivatives Market
(Fidessa, Steve Grob)
1 Comment
- OTC Clearing Part 5 - Trade Repository Reporting: The Regulation of Unintended Consequences (Capco, Tom Riesack) 6 Comments
- OTC Clearing Part 4: OTC Clearing and its Impact on Collateral Management (CAPCO, Kersten Martin Meyer and Tom Riesack)
-
Death of a SEF
(TABB Group, Adam Sussman)
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The Mirage of Extraterritoriality
(TABB Group, Paul Rowady)
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Swaps: Evolving Competitive Landscape
(TABB Group, Paul Rowady)
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Swaps Volumes: Where Will They Go?
(TABB Group, Paul Rowady)
- OTC Clearing Part 3: Extraterritoriality (try saying that quickly, three times over!) (Capco, Tom Riesack) 6 Comments
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Swaps to Futures?
(TABB Group, Adam Sussman)
2 Comments
- OTC Clearing: Part 2 - OTC Regulatory Complexity Fosters Clearing Insecurity (Capco, Tom Riesack) 2 Comments
- How Should Broker-Dealers Leverage FINRA Rule 2111? (SunGard’s capital markets business, Daniel Parker) 1 Comment
- OTC Clearing: Part 1 - Are financial institutions prepared for central OTC clearing? (Capco, Tom Riesack)
- Navigating Cross-Border Maze of Derivatives (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 2 Comments
-
To be a SEF or DCM
(Eris Exchange, Michael Riddle)
1 Comment
- The Dodd-Frank Starting Gun: What Does It Really Mean? (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 1 Comment
- Are you covered? Managing Collateral in the New World (Omgeo, Ted Leveroni) 1 Comment
- Reading the CFTC’s Mind (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Report Card Time (ISDA, ISDA, Robert Pickel, George Handjinicolaou)
- What’s Next for Market Surveillance in Europe? (SunGard, Magnus Almqvist) 2 Comments
- From Too Big to Fail to Too Small to Succeed? (Crest Rider, Julian Fisher) 4 Comments
- Dangerous Intersection: Dodd-Frank, Bank Regulators and Basel III (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- On Balance, Net Reporting Makes Sense (ISDA, ISDA, Robert Pickel, George Handjinicolaou)
- The Clock Is Ticking Louder on Dodd-Frank Reporting (Trade Hub Technologies, Rob May)
- Volcker: Is There an Implementation Timeline? (ETS, Steve Lynner) 4 Comments
- Destination: Compliance (Sapient, Ryan Baccus)
- The Dangers of De Minimus (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 3 Comments
- Exemptions Are a Mirage – There’s No Escaping the Cost of Collateral (TABB Group, TABB Group, Will Rhode, Paul Rowady) 1 Comment
- Bringing OTC Derivatives in from the Cold (Asset Control, Phil Lynch, President & CEO) 2 Comments
- Dodd-Frank's Unintended Consequences Hit Transparency (Depository Trust & Clearing Corp, Donald Donahue) 3 Comments
- Do SEF Aggregators Really Matter Now? (TABB Group, Kevin McPartland) 7 Comments
- Tackling the CFTC’s Block Trading Rule (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Trading OTC Derivatives: Mitigating Risk through Strategic and Operational Change (IPC, David Dodd, SVP, Managing Director of Asia Pacific)
-
Derivatives Regulation Roundup
(TABB Group, Larry Tabb)
- OTC Market Transparency in Danger (The Depository Trust and Clearing Corp., Dan Cohen) 1 Comment
- Mind the Gap: Dodd-Frank vs. the Rest of the World (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Solving the Puzzle: Asia Edition (EY, Kishore Kumar Ramakrishnan)
- Honey, I Shrunk the Market (ISDA, ISDA, Robert Pickel, George Handjinicolaou) 2 Comments
- Solving the Puzzle of OTC Derivatives Reporting (EY, Kishore Kumar Ramakrishnan)
- Dealer with a Capital “D” (TABB Group, Kevin McPartland) 3 Comments
- Turning Dodd-Frank into an Opportunity (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Do We Want to Adopt MATT? (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 3 Comments
- Swaps Liquidity Fragmentation (and Aggregation) (TABB Group, Kevin McPartland)
- Why ISDA Has Resorted to the Courts (ISDA, Conrad Volstad, CEO, and Robert Pickel, Executive Vice Chairman) 1 Comment
-
Crash Course: MF Global & Dodd-Frank
(G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Transparency, Dodd-Frank and Unintended Consequences (The Depository Trust & Clearing Corp., Larry Thompson)
- Crash Course: MF Global and Dodd-Frank (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 4 Comments
- Greece Won’t Kill CDS, Dodd-Frank Will (TABB Group, Kevin McPartland) 7 Comments
- Undermining Transparency (The Depository Trust and Clearing Corp., Dan Cohen) 3 Comments
- Data Demands in a New Era of Swaps Trading (TabbFORUM, Gregory Crawford)
- Derivatives Reform a Bright Spot? Who Would’ve Guessed? (TABB Group, Kevin McPartland)
- Can Single Dealer Platforms Become Organized Trading Facilities? (TABB Group, Will Rhode) 8 Comments
- What You Didn't Know About Synthetic Products and New Market Regs (Instinet, Nomura, Andrew Bowley, Gareth Carrol) 3 Comments
- What To Do in a Fast-Paced Futures World (Fidessa, Dan Smalley) 1 Comment
- The Free Flow of Data (Managing Director, Head of Government Relations, Dan Cohen) 6 Comments
- Rules of Risk Management for OTC Derivatives (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 4 Comments
- Electronic Swaps Trading Is Not a Myth (TABB Group, Kevin McPartland) 9 Comments
- SEFs: A Progress Report (TABB Group, Kevin McPartland) 5 Comments
- What's Behind the SEF Explosion – Regulation or Opportunity? (Head of Product Mgmt., SunGard Capital Markets, Tim Dodd) 3 Comments
- Dodd-Frank: TABB Group's Kevin McPartland on Benzinga Radio
- Light At the End of the (Regulatory) Tunnel? (newedge, Valery Lepinette)
-
Dodd-Frank: Practical Implications & Uncharted Territory
(G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Kevin McPartland’s Opening Remarks to a Senate Banking Committee on SEF Progress (TABB Group, Kevin McPartland) 4 Comments
- Don't Miss the (OTC Derivatives) Forest for the Trees (TabbFORUM, Gregory Crawford)
- Preview of a SEF (MarketAxess, Rick McVey, Chairman and CEO) 1 Comment
- Practical Implications of Dodd-Frank on the Trading of OTC Derivatives (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher)
- Uncertainty Aside, Dodd-Frank Driving Fixed Income Tech (TabbFORUM Contributing Editor, Marine Cole) 1 Comment
-
Dodd-Frank’s Impact on OTC Derivatives
(Capco, Joe Anastasio)
- Regulatory Arbitrage: Fact, Fiction or a Little Bit of Both? (TabbFORUM Contributing Editor, Marine Cole) 1 Comment
- Dear Mr. Regulator: Flexibility Needed for Forex SEFs (FXall, Phil Weisberg, CEO) 3 Comments
- Forex Derivatives Big, Risky Enough for Regulation (Stanford University, Darrell Duffie) 4 Comments
- Joining the VIPs, With a Hitch (New York University, Kapil Khetan) 5 Comments
-
Managing Liquidity Post Derivatives Reform
(TABB, Kevin McPartland)
- A new CDS Loophole (TABB Group, Kevin McPartland) 8 Comments
- Time for a Dodd-Frank Alternative (Gary DeWaal) 5 Comments
-
SEF Showcase - The End User Panel
(TABB Group, Kevin McPartland)
- Re-thinking Compression in a Cleared Swaps World (Eris Exchange, Michael Riddle)
- Larry Tabb and Kevin McPartland Tweet from "SEF-a-palooza"
- Kevin McPartland Opening Address to CFTC at SEF Showcase (aka SEF-a-palooza) (TABB Group, Kevin McPartland) 3 Comments
- A View of OTC Swaps Reform from the Boca Raton Shuttle (Anonymous) 2 Comments
- What's the SEF Def? A TABB Group Industry Barometer (TABB Group, Kevin McPartland) 1 Comment
- Talking SEFs in the Florida Sun (TABB Group, Kevin McPartland)
-
Dodd-Frank: It's Coming and It's Costly
(TABB, Gregory Crawford)
2 Comments
- OTC Derivatives and the Question of When (SunGard, Tony Scianna, Executive Vice President )
- SEF-a-Palooza: Commenting on the Comments (TABB Group, Kevin McPartland) 4 Comments
-
Cross Margining Melee
(TABB Group, TABB Group, Adam Sussman, Kevin McPartland)
1 Comment
- How to Create a New Bank Capital Crisis (TABB Group, Kevin McPartland) 6 Comments
-
CFTC Funding Debate
(TABB Group, Larry Tabb)
-
Client Clearing: How Will They Choose?
(TABB)
-
What's the Future for Swaps Trading?
(TABB)
-
Central Clearing: Challenges and Risks
(TABB)
-
SEF Definition is Set: Now What?
(TABB)
- The Peter Fisher Interview: A Guide
-
BlackRock's Peter Fisher on OTC Derivatives Reform
(TABB)
2 Comments
-
CFTC Commissioner O'Malia on Dodd-Frank Rulemaking and Implementation
(TABB)
- Technology or Bust: Don't Fear the Telephone Order (Thunderhead, Kevin Thorogood, Global Head of Investment Banking)
-
Data Storage and the CFTC
(TABB Group, Larry Tabb)
1 Comment
- One-Size-Fits-All Won't Work for Dodd-Frank: CFTC's O'Malia to TabbFORUM Conference (TabbFORUM, Gregory Crawford)
-
TabbFORUM OTC Derivatives Takeaways
(TABB Group, Larry Tabb)
-
OTC Derivative Reform Interview: Roger Liddell, LCH.Clearnet CEO
(TABB, Kevin McPartland)
1 Comment
-
OTC Derivative Reform Interview: Javelin CEO Jamie Cawley
(Javelin Capital Markets, Jamie Cawley)
-
OTC Derivative Reform Interview: IPC's Bart Bartolozzi
(IPC, Bart Bartolozzi)
-
OTC Derivatives Reform Interview: ICAP's Chris Ferreri
(TABB, Kevin McPartland)
-
Derivatives: Rules of Engagement
(CFTC, Commissioner Scott O'Malia)
-
BlackRock's Fisher on Inflation, Economy & More
(BlackRock, Peter Fisher)
-
SEFs and Electronic Credit Trading
(TABB, Kevin McPartland)
- Transparency, But Not As We Know It (TriOptima, Per Sjoberg, executive vice president; Susan Hinko, global head of industry relations)
- The Role of Clearinghouses in OTC Derivatives (G. M. Bollenbacher & Co., Ltd. , George Bollenbacher) 2 Comments
- OTC Derivatives Rules: Not What, But When (TABB Group, Kevin McPartland)
-
The New SEF Rules
(Tradeweb, Lee Olesky)
- OTC Derivatives Trading and Clearing: A Frantic Pace of Change (TABB Group, Kevin McPartland) 3 Comments
- Europe 2011 – Regulation, Consolidation and a New Dynamic (TABB Group, TABB Group, Miranda Mizen, Will Rhode) 1 Comment
- Cutting OTC Derivatives Clearing Capital Requirements: Making the Credit Crisis Look like a Walk in the Park (TABB Group, Larry Tabb) 26 Comments
-
Increasing Collateral Costs in OTC Derivatives
(TABB Group, Paul Rowady)
- CFTC's Gensler: I Support the Dodd-Frank Rulemaking (TabbFORUM, Gregory Crawford)
-
Measuring the Global Risk Transfer Market
(TABB Group, Paul Rowady)
- The Impending CFTC SEF Proposal: What You Need to Know and Why (TABB Group, Kevin McPartland) 6 Comments
- Re-Thinking Our Markets: A Few Ideas for Structural Change (TABB Group, Larry Tabb) 24 Comments
- Gravity, Logic and Sanity Hit the CFTC (TabbFORUM, Gregory Crawford)
-
Centrally Cleared CfDs: A Buy Side Perspective
(TABB Group, Will Rhode)
Swaps Futurization: Issues, Debate, and So Many Open Questions
Larry Tabb, TABB Group
There are many questions surrounding swaps futures. The answers will dictate the winners and losers, not only of the swaps market, but of the macro global economy, and they could determine the nature and severity of the next financial crisis. Continue