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42 results for: derivatives and trading
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Derivatives – UK CCP equivalence extended to 2025
By Edward Karsten, William Sykes
Following a statement by Mairead McGuinness, European commissioner for financial services, towards the end of last year, the European...
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Clearing – potential one-year extension to pension schemes exemption, but further extensions unlikely
By Edward Karsten, William Sykes
The European Securities and Markets Authority (ESMA) has sent a letter to the European Commission (EC) recommending that the temporary...
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UK Securitisation Regulation – FCA approves first two securitisation repositories
By Edward Karsten, Richard Fletcher
With effect from 17 January 2022, the Financial Conduct Authority (FCA) has decided to register both European DataWarehouse Ltd and...
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EU proposes delay to mandatory buy-in regime; settlement fails reporting and cash penalties unaffected
By Rob Daniell, Edward Karsten, Kartik Iyer
In a much-anticipated move, EU co-legislators have proposed an amendment to the Central Securities Depositaries Regulation (CSDR) to...
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Christmas comes early for clearing – UK CCP temporary equivalence to be extended
By Edward Karsten, Rob Daniell, Christine Long
Pursuant to a statement published yesterday, Mairead McGuinness, European commissioner for financial services announced an extension to...
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The ISDA 2021 EONIA Collateral Agreement Fallbacks Protocol
By Rob Daniell
The European Overnight Index, or EONIA, is due to permanently cease to be published from 3 January 2022, as EONIA does not meet the...
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Legislating for the LIBOR transition: synthetic LIBOR for tough legacy contracts
By Jamie Macpherson, Tim Plews
With less than four months to go before the FCA turns off the supply of daily LIBOR (in its well-used form) for most of the 35...
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European Commission consults on EU securitisation framework
By Richard Fletcher, Edward Karsten
The European Commission has launched a consultation on the EU securitisation framework. The consultation covers the following issues:the...
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The future of UK regulation: the FCA’s new business plan
By Andrew Henderson, Gavin Haran
The FCA has published its 2021/22 business plan. The publication of the plan was slightly delayed, which is perhaps unsurprising given...
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Securitisation – EBA consults on risk retention and HMT consults on the UK Sec Reg
By Edward Karsten, Richard Fletcher
EBA consults on risk retentionThe European Banking Authority (EBA) has launched a consultation on draft regulatory technical standards...
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Pension scheme arrangements clearing exemption extended to 2022
By Edward Karsten, William Sykes
The temporary clearing exemption for pension scheme arrangements, set out in article 89(1) of EU EMIR (as amended by EMIR Refit), has...
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17 June 2021: the third annual derivatives counting day
By Rob Daniell, William Sykes
The second anniversary of EMIR Refit is this week, and with it comes the annual requirement for most financial counterparties and...
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Beyond LIBOR: transatlantic divergence in loan markets
By Jamie Macpherson
A recent FT Alphaville article considers the state of play in the ongoing transition from LIBOR and usefully focuses on the market...
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Pension scheme arrangements clearing exemption – proposed EMIR extension and the UK’s approach
By Edward Karsten, William Sykes
EU law – current lawEMIR, as amended by EMIR Refit, provides that certain pension scheme arrangements are temporarily exempt from the...
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ESMA and ESA increase the short sale position reporting threshold from 0.1% to 0.2%
By Rob Daniell
On 15 March 2021, the European Securities and Markets Authority (ESMA) and the EFTA Surveillance Authority (ESA) announced that the...
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The coming end of LIBOR
By Jamie Macpherson
Long trailed and now confirmed: the FCA has announced the future cessation or loss of representativeness of all LIBOR currency-tenor...
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