MarketVoice News
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CCP Risk: Focus on Disclosure
On 24 August, FIA and the International Swaps and Derivatives Association submitted a joint response to a European Securities and Markets Authority consultation on conflicts of interest at central counterparties.
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Better Data
The Commodity Futures Trading Commission's Division of Market Oversight on July 10 launched a comprehensive review of its swap data reporting regulations and invited input from entities involved in swaps reporting. The CFTC said the review has two goals: 1) to ensure that the CFTC receives accurate, complete and highquality data on swaps transactions for its regulatory oversight role; and 2) to streamline reporting, reduce the messages that must be reported, and "right-size" the number of data elements that are reported. The CFTC also provided a "roadmap" for the review process. The first tranche of rule changes will address swap data repository operations and the confirmation of data accuracy by swap counterparties. The second tranche will address reporting workflows generally, including standardization of data fields and potential delayed reporting deadlines.
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Watching Wall Street
Hong Kong Exchanges and Clearing announced on Aug. 11 a three-phase plan to extend the trading hours for its equity index futures and options.
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Safety Margin
On July 17, ICE Clear US implemented a new concentration charge for positions held by clearing members that are above a certain threshold.
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Vela, Vidi, Vici
Vela Trading Technologies is on the move. In July, the New York trading and market technology firm, which was formerly known as SR Labs, announced its second acquisition in two months.
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Progress Report
On July 27, the International Organization of Securities Commissions published a “thematic review” of the progress being made in various countries in the adoption of IOSCO’s principles for the protection of client assets.
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System Safeguards
On July 5, four international regulatory bodies issued a set of policy documents aimed at strengthening the oversight and supervision of central counterparties and protecting financial systems from a potential default.
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People - September 2017
The French government appointed Robert Ophèle, a career central bank official, as chairman of Autorité des Marchés Financiers.
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Capital Calculations
On Aug. 14, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation jointly issued guidance regarding the regulatory capital treatment of variation margin on cleared derivatives.
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