Merkel: "Absolutely no doubt" a Brexit deal can be reached | EU to revise rules to avert disputes over failing banks | EU derivatives market valued at €453T
ADVERTISEMENT
October 20, 2017
ISDA dailyLead
Daily coverage for the global derivatives industry
SIGN UP ⋅   FORWARD
Top Stories
Merkel: "Absolutely no doubt" a Brexit deal can be reached
Merkel: "Absolutely no doubt" a Brexit deal can be reached
Merkel (Carsten Koall/Getty Images)
German Chancellor Angela Merkel expressed confidence that despite difficulties with Brexit negotiations, the EU and UK can come up with a deal. "If we are all clear in our minds, I have absolutely no doubt that we can reach a good result," she said after the first day of a summit of EU leaders in Brussels.
Deutsche Welle (Germany)/Agence France-Presse/Deutsche Presse-Agentur/Reuters/The Associated Press (10/20),  Politico Pro (subscription required) (10/20) 
LinkedIn Twitter Facebook Google+ Email
 
EU to revise rules to avert disputes over failing banks
The European Commission is working to ensure that resolution authorities assessing failing financial institutions can hire more than one valuation agency to avoid disputes. Multiple valuations are expected to help authorities determine "with absolute certainty" whether they must intervene, said Emiliano Tornese of the European Commission.
MLex (subscription required) (10/19) 
LinkedIn Twitter Facebook Google+ Email
Industry News and Trends
EU derivatives market valued at €453T
The European derivatives market comprises 33 million transactions with a notional value of €453 trillion, according to the European Securities and Markets Authority. ESMA's study found that over-the-counter transactions account for 94% of interest-rate derivatives trades.
Luxemburger Wort (Luxembourg) (10/19),  Politico Pro (subscription required) (10/19),  MLex (subscription required) (10/19),  Futures & Options World (subscription required) (10/19) 
LinkedIn Twitter Facebook Google+ Email
Assumption of custodian losses divides banks, CCPs
The question of who should bear the cost of a custody bank failure is dividing clearing banks and central counterparties as regulators work to establish recovery and resolution rules following Financial Stability Board guidance. The question revolves around which party controls the risks.
Risk (subscription required) (10/19) 
LinkedIn Twitter Facebook Google+ Email
Court permits Hayes to appeal confiscation order
A London court granted Tom Hayes, a former trader who was sentenced to 11 years for manipulating the yen London Interbank Offered Rate, permission to appeal part of a confiscation order related to the £878,806 he paid to UK authorities. "We oppose this application and will argue against it in court," a Serious Fraud Office spokeswoman said.
Bloomberg (free registration) (10/19),  MLex (subscription required) (10/18) 
LinkedIn Twitter Facebook Google+ Email
Regulatory Roundup
Lawmaker: Tick-size rule to apply to broker trading systems
Lawmaker: Tick-size rule to apply to broker trading systems
Ferber (Sean Gallup/Getty Images)
The European Parliament will amend the revised Markets in Financial Instruments Directive to apply a tick-size rule to systematic internalizers, said Markus Ferber, a member of Parliament who is leading a review of the legislation. Currently, the directive's tick-size rule doesn't apply to these entities.
MLex (subscription required) (10/18) 
LinkedIn Twitter Facebook Google+ Email
 
Senate banking chair wants Fed to normalize policies
Senate banking chair wants Fed to normalize policies
Crapo (Mark Wilson/Getty Images)
Senate banking committee Chairman Mike Crapo, R-Idaho, said the Federal Reserve should return to "more normal, traditional monetary policy." Crapo also expressed concern over the size of the Federal Reserve balance sheet and the slow pace the Fed has raised rates.
Bloomberg (free registration) (10/19) 
LinkedIn Twitter Facebook Google+ Email
 
ISDA News and Events
Focus On: ISDA SIMM -- Conferences in New York and London
Focus On: ISDA SIMM -- Conferences in New York and London
ISDA will be holding full-day and half-day conferences focusing on the ISDA Standard Initial Margin Model (SIMM). The full-day conferences are geared toward understanding all aspects of the ISDA SIMM for nonrisk professions, including SIMM calculations, model implementation and usage, dispute resolution, and governance. The half day will go into technical detail on the model sensitivities, parameters, methodology, calibration and monitoring. REGISTER: ISDA SIMM Framework for Non-Risk Professionals and Technical Developments of ISDA SIMM Model on Nov. 7 and 8 in New York and Nov. 14 and 15 in London
LinkedIn Twitter Facebook Google+ Email
 
ISDA Technology Conference: Developments for Derivatives Markets on Nov. 30 in London
ISDA Technology Conference: Developments for Derivatives Markets on Nov. 30 in London
Registration is open. Sponsorship and exhibition opportunities are available.
LinkedIn Twitter Facebook Google+ Email
 
Learn more about ISDA®:
Home | Conferences | Latest News | Bookstore
Join ISDA | Determinations Committee
  
  
We live in deeds, not years; in thoughts, not breaths; in feelings, not in figures on a dial.
Philip James Bailey,
poet
LinkedIn Twitter Facebook Google+ Email
  
  
ISDA® is a registered trademark of the International Swaps and Derivatives Association, Inc.
Sign Up
SmartBrief offers 200+ newsletters
Advertise
Learn more about the SmartBrief audience
Subscriber Tools:
Contact Us:
Advertising  -  Abiy Bekele
P: 919.931.5915
Editor  -  Bridget Lux
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2017 SmartBrief, Inc.®
Privacy policy |  Legal Information