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January 4, 2013
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Daily coverage for the global derivatives industry

  Top Stories 
  • Real-time reporting starts for swaps
    This week marks the beginning of mandatory real-time disclosure of certain types of swaps trades, thanks to Commodity Futures Trading Commission rules. However, the CFTC is still allowing a delay of as long as several hours until it finalizes the regulations. Traders say that makes the data roughly on par with those already available through subscription services. The Wall Street Journal (1/3) LinkedInFacebookTwitterEmail this Story
  • OCC signals banks will have more time to wall off swaps trading
    U.S. companies that engage in swaps trading and receive federal deposit insurance are required under the Dodd-Frank Act to spin off some swaps trading into a separate branch. However, the Office of the Comptroller of the Currency says that if banks ask for a transition period, the request will be "considered favorably." Reuters (1/3), Bloomberg (1/3) LinkedInFacebookTwitterEmail this Story
Margin Savings up to 90% for Cleared OTC IRS vs. Futures
90% is no small number - especially when it comes to margin savings. Market participants have been actively utilizing portfolio margining of Cleared OTC IRS and Eurodollar and Treasury futures, and total risk reductions now account for over $1 billion in initial margin savings - figures that remain unparalleled in the industry. Click here to learn more.
  Industry News and Trends 
  • Brokers' revenue is at stake as U.S. swaps rules take effect
    U.S. swaps rules are expected to drive some business away from brokers and to exchanges, shifting hundreds of millions of dollars of revenue. "It is going to be tough for the brokers. The exchanges are huge with deep pockets and they are not the types of companies you'd want invading your space," says Simmy Grewal of Aite Group. Reuters (1/3) LinkedInFacebookTwitterEmail this Story
Quarterly Small Business Leadership Report
Three industry heavy weights dish up the facts on what you need to know about the future of collaboration, increasing productivity and readying the office for the millennial workforce. Read the guide.
  Regulatory Roundup 
  • LCR deadline extension is expected from Basel Committee
    The Basel Committee on Banking Supervision is expected to grant a time extension for banks to increase capital buffers against financial shocks. The regulator's revision to its liquidity-coverage ratio, which a source says will be announced Sunday, would come in response to demands from banks and others who fear that a sudden move to build up buffers would sap liquidity at a time when markets are struggling. Reuters (1/3) LinkedInFacebookTwitterEmail this Story
  • Schaeuble urges U.S. to implement Basel III
    German Finance Minister Wolfgang Schaeuble says he is confident Europe will implement tougher capital rules for banks this year, and he put pressure on the U.S. to do the same. "I am confident that in the course of the year we will complete [details] in time to be able to start building up the additional capital required in the timeframe set by Basel III," Schaeuble wrote in an essay. "I also expect from our American partners that they too stick firmly to the political decision to introduce the new set of rules." Reuters (1/3) LinkedInFacebookTwitterEmail this Story
  • Fate of Dodd-Frank might be decided this year, analysts say
    Because rhetoric over the Dodd-Frank Act has softened and political alliances across the aisle have formed, 2013 could be the year that meaningful regulation comes out of Congress, analysts say. "There is no repealing Dodd-Frank, but there will be efforts to eliminate duplicative parts of the law to avoid unintended consequences," said Jaret Seiberg, senior policy analyst at Guggenheim Partners. The Washington Post (1/2) LinkedInFacebookTwitterEmail this Story
Genius is nothing but a great aptitude for patience."
--Georges-Louis Leclerc Comte de Buffon,
French naturalist, mathematician, cosmologist and encyclopedic author

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