MarketVoice News
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OTC Derivatives Reform
On April 28, the Monetary Authority of Singapore issued a consultation paper to further implement OTC regulatory reform in Singapore. The MAS is seeking comments on draft regulations that affect exchanges and recognized market operators for the trading of OTC derivatives. The draft regulations cover licensing and capital requirements and transitional arrangements. A second consultation paper will be issued by the MAS later in May which will cover changes to product definitions under the Securities and Futures Act and extend the capital markets services licensing regime to OTC derivatives.
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Nasdaq Forms VC Unit to Invest in Fintech Startups
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The Four Levels of Financial Regulation
Financial regulators use many techniques to carry out their responsibilities.
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Gallery - BOCA 2017
BOCA 2017: 42nd Annual International Futures Industry Conference
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Emerging Technologies in Capital Markets
This year’s FIA Boca put a special emphasis on emerging technologies. Executives from venture capital companies and technology providers shared their perspectives on the growth of fintech startups, the challenges to adopting new technologies, and the potential impact on business models.
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Shorter Settlement
On March 22, the Securities and Exchange Commission approved a rule that will shorten the standard settlement cycle for most securities transactions to T+2 from T+3. Broker-dealers will be required to comply with the shorter settlement cycle beginning on Sept. 5.
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Leverage Ratio Rethink
Two influential regulatory officials have indicated that they share the widespread concerns within the derivatives industry regarding the impact of Basel III capital requirements on clearing firms. Although they expressed these views as individuals, their comments suggest that banking regulators are recognizing that the treatment of cleared derivatives under Basel III should be reviewed.
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Project KISS
On March 15, Chris Giancarlo, the acting chairman of the Commodity Futures Trading Commission, announced a three-pronged plan to renovate derivatives regulation that he called Project KISS, which stands for “keep it simple, stupid.”
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Competition in Clearing
On March 29, the European Commission issued a statement prohibiting the proposed merger between Deutsche Börse and London Stock Exchange Group. The Commission concluded that the merger would have created a de facto monopoly in the clearing of fixed income instruments.
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Neither a Borrower Nor a Lender Be: On CCPs and Banks
A central counterparty, viewed from an economic perspective, is a “commitment mechanism.”
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