ESMA sole oversight of CCPs more efficient, ECB's Nouy says | UK lawmakers call for more urgency on Brexit deal | ECB's Nouy cautions banks about Brexit plans
November 10, 2017
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ESMA sole oversight of CCPs more efficient, ECB's Nouy says
ESMA sole oversight of CCPs more efficient, ECB's Nouy says
Nouy (Daniel Roland/AFP/Getty Images)
Daniele Nouy of the European Central Bank says keeping the European Securities and Markets Authority as the sole overseer of clearinghouses is more efficient than joint supervision with the ECB and other central banks. "Simplicity is a recipe for efficiency," she told a European Parliament economic committee.
Reuters (11/9) 
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UK lawmakers call for more urgency on Brexit deal
The UK House of Lords' EU financial affairs subcommittee wrote a letter to Chancellor Philip Hammond calling on him to agree to a Brexit transition period with the EU before year-end. The panel says delaying agreement to the first quarter of 2018 will be too late to stop a large-scale financial exodus from London.
Politico Pro (subscription required) (11/9) 
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Industry News and Trends
ECB's Nouy cautions banks about Brexit plans
The European Central Bank is worried that many banks in the UK and European mainland are delaying key Brexit decisions in an effort to keep their options open, said Daniele Nouy, the ECB's supervisory chief. She said she suspects that some London banks are setting up "empty shells" to handle eurozone business after Brexit.
MLex (subscription required) (11/9) 
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Noble to sell $1B in assets to retire debt
Noble Group continues to search for a strategic backer for certain operations as it prepares to sell an additional $1 billion in assets to repay debt.
Financial Times (tiered subscription model) (11/9) 
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Regulatory Roundup
Foreign investors welcomed to Chinese bond-derivatives trading
Overseas institutional investors can participate in China's interbank bond-derivatives market, the People's Bank of China says. No quota is in place, but investors must sign an agreement on derivatives trading before joining the market.
Reuters (11/9) 
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CFTC extends relief to SEFs over audit-trail data
Swap-execution facilities have received no-action relief from a Commodity Futures Trading Commission requirement that audit-trail data include information about post-execution allocations. The no-action relief is valid through Nov. 15, 2020.
Traders online (11/9) 
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ISDA News and Events
ISDA Regulators and Industry Forum: Remarks by Ong Chong Tee (MAS) & Chairman Giancarlo (CFTC)
ISDA Regulators and Industry Forum: Remarks by Ong Chong Tee (MAS) & Chairman Giancarlo (CFTC)
This conference will focus on the G-20 regulatory reforms and how they are affecting Asia-Pacific. Discussions will narrow in on questions surrounding trading venue equivalence, whether the reforms have produced markets that are more efficient and resilient, and what the potential legal challenges will be surrounding the implementation of regulatory reform. REGISTER: ISDA Regulators and Industry Forum on Nov. 13 in Singapore
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ISDA Tech Conference Keynotes by: Brian Quintenz (CFTC) & Mark Whitcroft (Illuminate Financial)
ISDA Tech Conference Keynotes by: Brian Quintenz (CFTC) & Mark Whitcroft (Illuminate Financial)
Registration is open. Sponsorship and exhibition opportunities are available.
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