22 - 23 May, 2014
America Square Conference Centre, London, UK

Back Office, Middle Office, Front Office and Derivatives Regulation

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>Welcome to the TradeTech Swaps & Derivatives download centre where you can keep up to date with the latest news and interviews covering the back office, middle office, front office and OTC derivatives trading.

Derivatives regulation: EMIR, MiFID II and Dodd-Frank are going to alter the market structure for derivatives beyond recognition in the coming months. As the market evolves from voice to electronic, and from OTC to cleared, its more important than ever to stay ahead of the curve. Keep up-to-date here in the Swaps & Derivatives Regulation Knowledge Centre.

TradeTech Swaps & Derivatives have collaborated with our partners to provide you the most up to date news on the regulations.

Keep checking back as more content will be added as we get closer to the event. If you have relevant content which you think would be of value to our download centre, email jo.bance@wbr.co.uk

Request the full agenda and speaker list here: tradetech@wbr.co.uk

New Standards Must Ensure Global Consistency
With new financial supervisory regimes coming online across the globe, it is essential that there is regulatory consistency and coordination across jurisdictions if greater market efficiency and stability is to be achieved.
In this article Michael Bodson - President and Chief Executive Officer, The Depository Trust and Clearing Corporation (DTCC) explains why country specific regulations will not work.
Implications of Financial Regulatory Reform

Since the fallout of ‘The Financial Crisis™’ the public have been up in arms to bring ‘those <expletive deleted> bankers’ to heel. As a result financial markets are now facing more regulatory changes in one go than in any other point in their history, including their official inception. It would appear no area is as greatly affected, or under as great scrutiny as OTC Derivatives.

Clearing under a changing regulatory framework

n the wake of the financial crisis, both the G20 and the European Commission have recognized in several statements the benefits of central clearing. New regulations introduced by the European Market Infrastructure Regulation (EMIR) and the Dodd-Frank Act make increased electronic trading and central counterparty clearing (“CCP clearing”) of standardized OTC derivatives an inevitability.

OTC Derivatives Market

For anyone in the OTC environment, the impact of EMIR will be large, but despite many of the new regulations being made clear, it seems that the race to the finalising the rulebook is far from finished, with industry putting additional pressure on the deciding bodies to make changes; in particular the new three year exemption for Pension funds.

Central Clearing House
As the world moves beyond financial crisis finger-pointing and steams ahead towards relapse prevention it is clear that like it or not, new regulations in trading must be, and indeed are being applied.

In particular there is a keen focus on OTC Derivatives and the need for them to go through a central clearing house with the intention of removing systemic risk, the chain reaction caused by a financial institution defaulting. Should that happen, the clearing house (CCP) would step in to ensure that the transactions with the involved counterparties were completed – effectively acting like scaffolding for the house of cards.

What’s your outlook on the derivatives market?

We at TradeTech are routinely engaging with some of the most senior members of the financial trading community and right now we have our sights focused squarely on the big changes happening in swaps and derivatives.
In order to help bring a flavour of what goes on behind the conference doors to you, we got some of our speaker faculty to sum up what their outlook is on the current state of the derivatives market in a sentence or two. Here’s what they had to say…