FinOps

News of financial ops, regs and tech

  • Home
  • Ops
  • Tech
  • Regs
  • Contact
  • The FinOps story
  • Subscribe
  • Log In

Goodbye NSCC: Hello Paxos for Clearing US Equities?

November 27, 2019 By Chris Kentouris Leave a Comment

US clearinghouses, such as the National Securities Clearing Corp. (NSCC), could become either a thing of the past or take a backseat, if custodian Paxos has its way in clearing and settling US securities. The US Securities and Exchange Commission’s recent no-action letter to Paxos allows the firm to serve as a clearinghouse for a […]

Filed Under: Clearing, Innovation, Post-Trade, Risk, Settlement Tagged With: Blockchain, Brokerage Ops, Clearinghouses, DTCC, Innovation, NSCC

Blockchain for US Settlement: Three, Two, One, Takeoff? (Update)

August 31, 2016 By Chris Kentouris Leave a Comment

(Editor’s Note: On Sept 14 itBit announced that its flagship Bankchain and other post-trade projects would be run out of a new firm Paxos with the same management. The former itBit, would be a division of Paxos, and continue to operate its crypto-currency trading platform).    If US blockchain afficionados have their way, the technology […]

Filed Under: Clearing, Innovation, Post-Trade, Risk, Settlement, Slider, Trading Tagged With: Blockchain, Brokerage Ops, Clearinghouses, Compliance, Depositories, DTCC, FCA, Innovation, Investment Ops, Matching, Post Trade, Regulators, SEC, T+2

Fund Managers to SEC: Change DTCC, ICE Swaps Rules

August 17, 2016 By Chris Kentouris Leave a Comment

Fund managers are asking the Securities and Exchange Commission to force Depository Trust & Clearing Corp. and ICE to adapt their rulebooks to match their limited reporting responsibilities for security-based swap transactions. The Asset Management Group (AMG) and Investment Company Institute (ICI) say that the DTCC’s Trade Repository and the ICE Trade Vault have overstepped the […]

Filed Under: Clearing, Compliance, Derivatives, Funds, Post-Trade, Reporting, Slider Tagged With: Clearinghouses, Compliance, Depositories, Dodd-Frank, DTCC, Fund Ops, Post Trade, Reporting, SEC, Swaps

The Derivatives ID Dilemma: Industry Accord Suggests an ISIN Solution

March 18, 2016 By Chris Kentouris Leave a Comment

Is the International Securities Identification Number (ISIN) not fit for purpose for identifying certain types of derivatives, as claimed by some partisans for other identifiers or just “concerned citizens” of the derivatives realm? Or is the only possible solution for regulatory reporting requirements a Unique Product Identifier (UPI) based on the descriptive taxonomy developed by […]

Filed Under: Clearing, Compliance, Data, Derivatives, Infastructure, Post-Trade, Slider, Standards, Trading Tagged With: Clearinghouses, Compliance, EMIR, ESMA, Fund Ops, Investment Ops, MiFID, Post Trade, Regulators, Reporting, Standards, Swaps

Fund Managers: Reducing Costs of Collateral Fails

March 3, 2016 By Chris Kentouris Leave a Comment

US$3.6 million. That is the average cost a fund management firm could incur for correcting failures to settle their collateral requirements for bilateral swap transactions in 2020. The amount comes to US$2.4 million for a broker-dealer. These sobering figures, delivered in a document entitled “Implications of Collateral Settlement Fails: An Industry Perspective on Bilateral OTC […]

Filed Under: Clearing, Compliance, Derivatives, Infastructure, Margining, Post-Trade, Risk, Settlement, Slider Tagged With: Clearinghouses, Compliance, Depositories, DTCC, Fund Ops, Hedge Funds, Post Trade, Regulators, SEC, Settlement, Swaps

FINRA’s TBA Margin Rule: No Meeting of Minds with Industry

February 4, 2016 By Chris Kentouris Leave a Comment

The pleas of fund managers and broker-dealers for the Financial Industry Regulatory Authority (FINRA) to change proposed rules requiring the collateralization of agency mortgage-backed securities and other transactions are falling on deaf ears and time is running out. The SEC is requiring that final comments on FINRA’s new proposal published last month be submitted by […]

Filed Under: Clearing, Compliance, Derivatives, Margining, Post-Trade, Regulations, Slider, Trading Tagged With: Clearinghouses, Collateral, Compliance, Custodians, Depositories, DTCC, FINRA, Investment Ops, Ops Risk, Post Trade, Regulators, SEC

Fund Managers: On Countdown for New Uncleared Swaps Margins

November 12, 2015 By Chris Kentouris Leave a Comment

US banking regulators might not have directly overseen the activities of fund management shops in the past, but when it comes to uncleared bilateral swap contracts, that stance is changing fast. The new arrangement will come at a hefty cost for heavy users of the bespoke deals. Under final rules released October 22, a host of […]

Filed Under: Analytics, Clearing, Compliance, Derivatives, Financials, Margining, Post-Trade, Rules, Settlement, Slider, Trading Tagged With: Brokerage Ops, Clearinghouses, Collateral, Compliance, Custodians, Fund Ops, Post Trade, Regulators, Settlement, Swaps, Valuation

FCMs: Fund Managers Swap One Cost for Another

October 23, 2015 By Chris Kentouris Leave a Comment

Fund managers can no longer assume all is well in their relationships with their futures commissions merchants. As many face changing or even lost relationships with their FCMs, the big question they are forced to answer: What do we do now? Their choices: either find another FCM, reduce the number of centrally-cleared swaps transactions they trade, or […]

Filed Under: Clearing, Compliance, Derivatives, Margining, Outsourcing, Post-Trade, Risk, Risk, Settlement, Slider, Technology, Trading Tagged With: Brokerage Ops, Clearinghouses, Compliance, Fund Ops, Investment Ops, Middle Office Ops, Outsourcing, Reporting, Swaps

Swap Positional Identifiers: Buy-Side Group Positions Industry Standards

August 27, 2015 By Chris Kentouris Leave a Comment

A fund manager executes an order for a swap contract with a broker-dealer counterparty on a swaps execution facility (SEF), then allocates the order to separate underlying funds and clears the trade through a clearinghouse using a futures commission merchant (FCM). At the end of this process, the fund manager might report the trade to […]

Filed Under: Compliance, Derivatives, Funds, Infastructure, Reporting, Settlement, Slider, Trading, Uncategorized Tagged With: Clearinghouses, Compliance, Custodians, Fund Ops, Middle Office Ops, Reconciliation, Regulators, Reporting, Swaps, Valuation

OTC Derivatives: The Identifier Debate Heats Up in Europe

May 21, 2015 By Chris Kentouris Leave a Comment

As over-the-counter derivatives emerge from the shadowed status of private bilateral contracts into the relative sunlight of clearinghouse operations and regulatory reporting, there is a war heating up about a brand new problem — how these deals will be identified. Stocks, bonds, exchange-traded derivatives and other financial instruments are all regularly assigned unique codes that […]

Filed Under: Derivatives, Reporting, Slider Tagged With: Clearinghouses, Compliance, Data, Depositories, Dodd-Frank, EMIR, ESMA, MiFID, Reporting, Standards

Next Page »

The FinOps story

Dear Readers,

If you are a new visitor to FinOps Report, welcome to our newsite. Beyond what you see on the home page, check out our archives for articles that thousands of readers have found useful. To our loyal readers, thanks for staying with us. We write FinOps for you.

Our goal remains constant – news you can put to work. We analyze how regulations, operations, and financial technology intersect, and we bring you expert advice to reduce your operational and regulatory risks. We don’t waste your time with the same old stories you find elsewhere. We offer you practical value that you don’t find anywhere else.

If even one FinOps article has helped you, please return the favor by subscribing. Your subscriptions fund us in providing the broadest and most detailed coverage of important topics for middle and back-office operations, compliance and fintech specialists. A subscription is $60 a year, or $15 a quarter. Click the “Subscribe” tab on any page to sign up.

Meanwhile, please stay in touch. Enroll for news alerts, if you haven’t already. And use the “Contact” page to connect directly with me. We want your story ideas and feedback, and we love hearing from you.

Chris Kentouris
Editor

Read More…

Sign Up for FinOps Alerts!

Archives

News Topics

AIFMD AML Blockchain Brokerage Ops CFTC Clearinghouses Collateral Compliance Corporate Actions Crypto Custodians Data Depositories Derivatives Dodd-Frank DTCC EMIR ESMA FATCA FINRA Fund Ops Hedge Funds Innovation Investment Ops Investors KYC Matching Middle Office Ops MiFID Ops Risk Outsourcing Post Trade Private Equity Reconciliation Regulations Regulators Reporting SEC Security Settlement Standards Swaps T+2 Tax Valuation

[footer_backtotop]

Copyright © 2023 FinOps · Privacy Policy