Initially thought of sharing my review on the Wolf of Wall Street today, but I do not wanted to break the series of the EMIR regulations that we ended up yesterday choosing the Trade repositories (TR). Now we stand at the point from the Question no.4 of yesterday’s post.
a) Choose a 3rd Party Provider, following your decision to delegate
b) Decide which TR you will connect to, if you will self-report
c) Liaise with your counterparties to find out their requirements, if you will delegate reporting to them.
Question 4: What are the criteria to be taken into account before choosing my 3rd Party Providers?
The 3rd Party Provider should help you adapt to the new workflow for Trade Reporting as it will serve as the go-between with TRs. Continue reading “Regulations 🙂 EMIR Trade Reporting – 2”
As we know this will be the year of Regulators across the globe, the deadlines are approaching to implement the regulations and some regulations already imposed on the financial industry. Trade Repositories to offer their services to Europe’s entities and ESMA’s updated version of EMIR implementation timeline showed the 12th of February as the start date for trade reporting, for all derivative asset classes, for both ETD and OTC derivatives.
Addressing few questions today and will continue to address in the future posts.
Question1: What’s your budget for Regulatory projects? Continue reading “Regulations 🙂 EMIR Trade Reporting – 1”
Recently attended a town-hall on the operational risk, the topics shared by the host was not new but it was all about awareness in the organisation. Lot of people asked why rogue traders still exist. But, that seems as if it’s an easy one to answer. Fool-proof risk management doesn’t exist and never will. At, least it won’t while the rogue traders are being covered by rogue managers.
You see, the definitions at the beginning had one thing wrong. They are definitions of solitary, lone-wolves. But, even lone-wolves belong to a group. They just prefer to avoid the assistance of others in certain matters. The rogue trader’s pack is the howling, fierce management for which he works. Lone-wolves always have alpha members they take orders from, don’t they? Lone-wolves are sometimes excluded from the pack to protect that alpha-male, thus preventing ‘in-breeding’ in the pack. It’s exactly the same in the trading world of finance. Continue reading “The Famous Rogue Traders”
In one the recent release the European Banking Authority (EBA) published a press release and consultation paper on a draft recommendation on the use of Legal Entity Identifiers (LEIs). The consultation remains open for comment until 28 November 2013.
The EBA has developed draft Implementing Technical Standards on Supervisory Reporting (ITS) pursuant to the Capital Requirements Regulation (CRR). The ITS address the reporting of:
A year back George Soros gave a speech on the Euro Crisis, Could be one of the best speech have heard in the financial domain. After 1 year Euro remains Status quo with some positive signs. Here is the complete speech
He Started with the Crash of 2008 that has been a widespread recognition, both among economists and the general public, that economic theory has failed. But there is no consensus on the causes and the extent of that failure.
He differentiate economics that is a social science and there is a fundamental difference between the natural and social sciences.
Putting the radically approachinspired by Karl Popper who taught him that people’s interpretation of reality never quite corresponds to reality itself. This led him to study the relationship between the two. There is a two-way connection between the participants’ thinking and the situations in which they participate. On the one hand people seek to understand the situation; that is the cognitive function. On the other, they seek to make an impact on the situation; he termed that the causative or manipulative function. Continue reading “The Speech on Euro Crisis by Soros”