XP 49 Financial Industry Consultants

13th January 2022 – IOSCO Operational Resilience of Trading Venues Consultation Results

2022-03-14T12:14:03+00:00

IOSCO draws a few lessons from its s=consultation about strengthening the resilience of trading venuws through enhanced BCP testing, effective governance frameworks, managing dependencies on people, premises, processes...   IOSCO report link: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD694.pdf

13th January 2022 – IOSCO Operational Resilience of Trading Venues Consultation Results2022-03-14T12:14:03+00:00

7th January 2022 – ISDA OTC Compliance Calendar

2022-01-17T17:13:26+00:00

ISDA publishes monthly updates on the OTC reform calendar, detailing all the forthcoming regulations by jurisdictions. This is a useful reminder of changes to come and dates to pay attention to.   ISDA document: https://www.isda.org/a/vU6gE/Updated-OTC-Derivatives-Compliance-Calendar-2022-1-1.pdf  

7th January 2022 – ISDA OTC Compliance Calendar2022-01-17T17:13:26+00:00

16th December 2021 – CFTC SOFR First – User Guide for ETD/XTD

2021-12-30T11:25:36+00:00

CFTC encourages the use of SOFR for ETD / XTD (EXchange Traded Derivatives) and makes 4 key statements: 1- Eurodollar futures and options are LIBOR contracts; --> so they should be abandoned 2- SOFR futures trading volumes are growing rapidly, and SOFR futures exposures are larger than market participants realize, given the construction of LIBOR [...]

16th December 2021 – CFTC SOFR First – User Guide for ETD/XTD2021-12-30T11:25:36+00:00

16th December 2021 – ISDA LIBOR Fallbacks & Protocol

2021-12-30T11:34:13+00:00

ISDA publishes 3 documents for the Libor transition: - the 2021 Fallback Protocol - Amendments to Fallback Definitions and additional IBORs - New Fallbacks for Additional IBORs (India MIFOR; Malaysia KLIBOR; New Zealand BKBM; Norway NIBOR; Philippines PHIREF; Sweden STIBOR).   ISDA Fallback Protocol: https://www.isda.org/a/nhtgE/ISDA-2021-Fallbacks-Protocol_Publication-Version.pdf New Fallbacks for Additional IBORs: https://www.isda.org/a/TltgE/ISDA-Publishes-New-Fallbacks-for-Additional-IBORs.pdf

16th December 2021 – ISDA LIBOR Fallbacks & Protocol2021-12-30T11:34:13+00:00

3rd December 2021 – FSB Report on OTC Derivatives Market Reform Implementation

2021-12-29T15:29:40+00:00

The FSB issues its annual Report on the implementation of the OTC Derivatives Market Reform which was decided following the 2008/09 financial crisis. Nothing major has come out in the last 12 or 15 months, partly as a result of COVId-19. The FSB report can be found here: https://www.fsb.org/2021/12/otc-derivatives-market-reforms-implementation-progress-in-2021/

3rd December 2021 – FSB Report on OTC Derivatives Market Reform Implementation2021-12-29T15:29:40+00:00

15th November 2021 – IOSCO Principles for Commodity Derivatives Markets Regulation

2021-12-05T17:08:24+00:00

IOSCO completed its taskforce work on the supervision and regulation of commodity derivatives markets. The G20 had asked IOSCO to work on the regulation and supervision of commodity derivatives markets back in 2010, stressing the need “for enhanced transparency in both cash and derivatives markets as previously recommended by IOSCO”. In April 2011, the G20 [...]

15th November 2021 – IOSCO Principles for Commodity Derivatives Markets Regulation2021-12-05T17:08:24+00:00

8th November 2021 – Bank of England Approach to Tiering Incoming CCPs

2021-11-25T18:34:32+00:00

The Bank of England (BoE) has today published a Consultation Paper and draft Statement of Policy on the Bank’s approach to ‘tiering’ non-UK central counterparties (CCPs) based on the level of systemic risk they could pose to UK financial stability. Currently non-UK CCPs can provide services in the UK under a temporary recognition regime. In [...]

8th November 2021 – Bank of England Approach to Tiering Incoming CCPs2021-11-25T18:34:32+00:00

24th September 2021 – UK HM Treasury Wholesale Markets Review – AFME Response

2021-10-11T14:51:26+00:00

AFME provided a response to the HMT consultation on the Wholesale Markets Review, providing feedback to the UK proposals on Trading Venues, SIs or Systematic Internalisers, Equity Markets - Fixed Income - Derivatives Markets - Commodity Market, Reporting... Access the AFME response here - https://www.afme.eu/news/press-releases/details/AFME-responds-to-UK-Treasury-Wholesale-Markets-Review

24th September 2021 – UK HM Treasury Wholesale Markets Review – AFME Response2021-10-11T14:51:26+00:00

24th September 2021 – UK Wholesale Markets Review Consultation Deadline

2021-09-12T15:33:22+00:00

24/09/2021 “This consultation is part of the Chancellor’s broader vision to enhance the competitiveness of UK capital markets, while maintaining high regulatory standards”. See the official text of the UK Government consultation here - https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/998165/WMR_condoc_FINAL_OFFICIAL_SENSITIVE_.pdf  

24th September 2021 – UK Wholesale Markets Review Consultation Deadline2021-09-12T15:33:22+00:00

14th September 2021 – FCA CP21/21 – Primary Markets Effectiveness Review Consultation Deadline

2021-09-12T16:52:46+00:00

14/09/2021 Deadline for feedback on the FCA consultation, which follows on from the UK Listing Review and discusses the functioning of the listing regime and changes to remove barriers to listing. See the FCA consultation document here - https://www.fca.org.uk/publication/consultation/cp21-21.pdf  

14th September 2021 – FCA CP21/21 – Primary Markets Effectiveness Review Consultation Deadline2021-09-12T16:52:46+00:00
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