Industry awaits formal approval from European Commission, but Global Custodian understands it will make no 'fundamental changes' to SFTR which now looks to be adopted in at the end of the year or Q1 2019.
Pension funds will have to begin clearing OTC derivatives contracts on 17 August 2018, despite calls for a third extension.
Regulation and collateral costs have made the cleared derivatives market much more attractive for the buy-side, but what else will it take for them to voluntarily take part?
Trade repositories set up under EMIR have received criticism by ESMA over reporting fees and other teething issues.
Derek West will join the DTCC with responsibility for compliance at its European Global Trade Repository.
ESMA’s latest consultation is in response to a request from the EC to formulate an EU regulation on fees for trade repositories.
European regulations including EMIR and SFTR should continue if Britain is to retain financial industry.
Institutions are concerned about the link between custody and investment businesses at banks.
ESMA is proposing a two-year extension to the phase in period for category 3 counterparties
Certain fund and asset managers have begun the frontloading requirement set out in the European derivatives clearing rules.