Our News page provides you access to company press releases, CMA professionals in the news, industry recognition and the CMA company brochure. It also provides access to our thought leaders who regularly contribute articles, blogs, quotes and viewpoints on matters affecting the financial industry. In addition, our News tells you when we’re speaking at industry events. From September 9-11, CMA Partner Michael Hartig spoke at the International Securities Association for Institutional Trade Communication (“ISITC”) conference in Washington, DC presenting about “Preparing for New Regulation”. On October 3 in New York, he spoke about FATCA compliance applied to Corporate Actions at the FTF Conference on Corporate Actions Processing. On October 19, CMA Partner Mike Zimits led a panel on, and spoke about Collateral Management & Risk Management of non CCP-cleared trades at the SCI’s 3rd Annual OTC Derivatives Seminar produced by Structured Credit Investor with co-sponsors CME Group, Bingham McCutchen LLP and InterContinental Exchange “ICE”.
IFR 2043 26 July to 1 August 2014 By Christopher Whittall As a consultation on landmark reforms that will irrevocably change the face of European financial markets draws to a close, a fundamental and deceptively simple question remains at the centre of the regulatory debate: how to define market liquidity. At stake is the range of products that will be captured by beefed-up pre and post-trade transparency requirements under… Read More »
By Gina Chon in Washington Financial Times The Federal Reserve Bank of New York is stepping up pressure on the biggest banks to improve their ethics and culture, after investigations into the alleged rigging of benchmark rates led officials to conclude bankers had not learnt lessons from the financial crisis. The investigations into the alleged manipulation of Libor and foreign exchange rates produced emails and other evidence that NY… Read More »
07.25.2014 On August 11, trade reporting requirements under European Market Infrastructure Regulation (Emir) will kick in, requiring firms to report valuation and collateral information, in addition to the basic trade reporting requirement that they have been subject to since February. This puts the onus on buy-side firms to either do the reporting themselves, or delegate it to their sell-side broker. “From a buy-side perspective, a lot of firms thought they… Read More »
By Helen Bartholomew Published July 12, 2014 IFR After a solid first quarter, equity derivatives desks have endured a difficult three months as volumes declined alongside a plunge in volatility, further denting hopes that the business will play a significant role in plugging the revenue gap left by the fixed income slump. As banks prepare to deliver second-quarter results that will struggle to live up to solid first-quarter numbers buoyed by… Read More »
Author: Isobel Wright, Nora Bullock Hogan Lovells explains how alternative investment funds that enter into derivatives transactions may judge the interaction between Emir and AIFMD The European Market Infrastructure Regulation (Emir) came into force on August 16, 2012, and sets out new requirements, including clearing obligations, risk mitigation techniques for uncleared trades and trade reporting, for all over-the-counter derivatives. The extent to which the new requirements will apply will depend… Read More »
By Abigail Moses Jun 23, 2014 12:06 PM ET The International Swaps & Derivatives Association said it was asked to rule whether a clause in credit-default swaps on Argentina has been triggered after the government said it won’t make bond interest payments. Schulte Roth & Zabel LLP, a U.S. law firm, requested the ruling for a “potential repudiation/moratorium event,” according to a letter dated June 20 on ISDA’s website. The… Read More »
Written by: William Mitting Mifid II plans could force thousands of foreign firms out of Europe Provisions within Mifid II to regulate direct electronic access could result in thousands of non-EU firms ceasing trading on European derivatives markets. The European regulator Esma is currently consulting on the technical standards that will form the basis of the implementation of the Markets in Financial Instruments Directive or Mifid II. Central to the… Read More »
06.19.2014 Swap dealers are facing new rules for calculating margin for uncleared swaps, i.e., those swaps that are executed and settled bilaterally rather than being centrally cleared. The Basel Committee on Banking Supervision and the International Organization of Securities Commissions have established a December 2015 deadline for national regulators to come up with rules that conform to guidelines issued by BCBS/Iosco in September of last year for calculation of initial… Read More »
By Simon Johnson, Financial Times Financial shadows are dangerous. Even more dangerous are interactions between poorly understood shadows and essential financial intermediation activities. And most dangerous is when officials and private sector executives encourage a class of transactions that supposedly provide modest risk mitigation, while really building a disguised form of systemic risk on a grand scale. It was not mounting losses at Countrywide, the failure of Lehman Brothers or the… Read More »
A JWG analysis. MiFID I was all about creating a common set of rules for the single market. Along the way, it asked regulators to track market abuse. They duly set up a system of transaction reporting that all feeds into Paris – 70% of it via the UK. Seven years and millions in fines for poor reporting practices later, the system sort of works for spotting bad behaviour. Then,… Read More »
CMA is excited to welcome Diane Gabriel to our team as our Executive Director of Wealth Management Recruiting and Senior Business Development & Talent Acquisition Specialist.… Read More »
CMA is thrilled to announce that both David Carle of CMA and Nexus FrontierTech, as well as Danny Goh of Nexus will be speaking at… Read More »
The transition from LIBOR to the Fed-published Secured Overnight Financing Rate (SOFR) or possible alternatives is motivated in large part by the mandated cessation of… Read More »
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