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US and UK sound post-Brexit derivatives regulatory accord
5 years ago
The US Commodity Futures Trading Commission (CFTC) and the Bank of England have issued a joint statement assuring derivative market participants of continued access to trading and clearing after the UK’s exit from the European Union -
Dentons boosts derivatives practice in London with two partner
5 years ago
Dentons has added two partners to its derivatives practice in London -
Esma grants no-deal Brexit recognition for UK central clearers
5 years ago
The European Securities and Markets Authority (Esma) has moved to avoid a derivatives market debacle by agreeing to recognise three UK-based central counterparties (CCPs) in the event of a no-deal Brexit -
Behave yourselves: EBA policy advisor warns against misuse of securitisation rules
5 years ago
The European securitisation market has come a long way over the last decade, and the message from one policy advisor is clear – don’t do anything to mess it up. -
DTCC appoints Deriv/Serv board chairman to replace Thompson
5 years ago
The Depository Trust & Clearing Corporation (DTCC) has appointed a replacement board chairman of its Deriv/Serv credit derivatives repository following the retirement of Larry Thompson in December -
CDS lives to bring more fights as it steers past Ziggo and Sears
5 years ago
Credit default swaps have navigated two big tests of their rules, holding up to scrutiny on Ziggo Bond Finance (ZBF) and Sears Roebuck Acceptance Corp (SRAC), despite warnings they could weaken the product -
Isda sets 27 February deadline for German bank CDS protocol adherence
5 years ago
The International Swaps and Derivatives Association (Isda) has launched a protocol for German bank CDS, as the industry looks to adapt to a change in the country’s law regarding senior financial debt -
CLO market holds breath as Japan risk retention looms
5 years ago
Risk retention compliant US CLOs could make a comeback after the Japan Financial Services Authority (JFSA) unveiled its proposed new risk retention framework, which could tie the hands of the world’s biggest buyers of US CLOs -
Market welcomes Esma loosening of securitisation regs but questions remain
5 years ago
The European Securities and Markets Authority (ESMA)'s revision of the reporting templates that must be completed under the securitisation regulations addresses many of the concerns raised by market participants but leaves some points of difficulty, according to industry lawyers -
Bank of England agrees post-Brexit recognition of UK central clearers with Esma
5 years ago
The Bank of England and the European Securities and Markets Authority (Esma) have agreed to continue to recognise central counterparties (CCPs) and the central securities depository (CSD) established in the United Kingdom in the event of a no-deal Brexit -
Isda seeks fallback spread vendor for derivatives
5 years ago
The International Swaps & Derivatives Association is seeking an independent service provider to calculate and publish adjustments to fallbacks it will use in interest rate benchmarks for its Isda definitions -
CLO docs shed light on implementation of Securitisation Regulation
5 years ago
Market participants are beginning to get visibility on how European CLOs are handling the transparency obligation and the risk of fines under the European Securities & Markets Authority’s (Esma) Securitisation Regulation, according to a report on Creditflux’s sister publication Debtwire -
Esma requests derivatives clearing reprieve for smaller counterparties as deadline looms
5 years ago
With time running out for market participants to comply with a 21 June deadline to start centrally clearing over-the-counter credit and interest rate derivatives, the European Securities and Markets Authority (Esma) has pleaded with national regulators to overlook the failure of smaller counterparties who may subsequently be absolved from the requirement in any case since thresholds are not yet finalised -
Central counterparties need to improve after Nasdaq Clearing member default, says Isda
5 years ago
Derivative central counterparties (CCPs) must look to make a number of improvements to risk practices, the International Swaps and Derivatives Association has said in a paper that follows a clearing member default at Nasdaq Clearing in September -
Ziggo CDS protection buyers get a lift as DC votes for successor
5 years ago
Holders of credit default swap protection on Ziggo Bond Finance have received a boost, with the EMEA Determinations Committee ruling that contracts structured under the 2014 Isda credit derivative definitions have a successor – dispelling fears they would be orphaned. -
ESAs extend reporting olive branch to European CLOs
5 years ago
A group of European supervisory authorities (ESAs) have raised hopes that CLOs could avoid some of the toughest reporting requirements under the securitisation regulations coming into effect in January -
US regulation drives insurance money towards credit ETFs
5 years ago
Institutional investors are increasingly allocating to credit exchange-traded funds (ETFs), but their motivations are changing. These vehicles are famed for their liquidity, but several investors are said to be pouring money into them for the long term amid regulatory changes which have made ETF investments more favourable -
LMA seeks no-deal Brexit safety net for European lending
5 years ago
European regulators have voiced concerns about the potential damage a no-deal Brexit scenario would do to the syndicated loan market and the wider European Union economy -
Merry Christmas from the EU: Commission gifts regulatory relief to securitisations
5 years ago
European securitisers can breathe a sigh of relief today after the European Commission has endorsed calls to relax its securitisation regulation -
London CCPs to be given 12-month EU equivalence in no-deal Brexit scenario
5 years ago
The European Commission will continue to grant equivalence to UK central clearing counterparties for 12 months in the case of a “no deal” Brexit, it has been variously reported -
Creditex obtains CFTC swap execution facility exemption
5 years ago
Creditex, the electronic brokerage for corporate bonds and credit default swaps, has been granted an exemption from a requirement to register with the US Commodity Futures Trading Commission as a swap execution facility -
European regulators look to soothe CLO reporting jitters
5 years ago
The European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA) have sought to calm the nerves of the European CLO industry ahead of a securitisation regulation framework that is due to come into effect from January -
Market favours retrospective over forward-looking approach to Ibor benchmark fallbacks, says Isda
5 years ago
New benchmark fallbacks for derivatives contracts that reference interbank offered rates are likely to be based on the “compounded setting in arrears rate” and the “historical mean/median approach to the spread adjustment”, the International Swaps and Derivatives Association has said -
ESMA pushes for continued UK clearing access in event of no-deal Brexit
5 years ago
The European Securities and Markets Authority will support continued access to UK central clearing counterparties for EU clearing members and trading venues after 30 March in the event of a no-deal Brexit, the organisation has said -
Simmons & Simmons adds partner to lead its CLO practice in London
5 years ago
Simmons & Simmons has appointment structured credit specialist James Grand as a partner to lead its CLO practice
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