Client training on Finadium’s securities lending, repo and hedge fund databases
Finadium clients can access the webinar replay here. Continue reading
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SFTR peer update: where does your firm stand in getting ready?
MarketAxess and Finadium recently surveyed 16 large market participants to better understand the current state of readiness for the Securities Financing Transactions Regulation (SFTR). The results of the survey show…
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An opportunity for market-led reform in equity-for-equity collateral exchanges
Regulatory changes put in place following the financial crisis of 2008 have broadly reshaped the US repo market but few reforms outside of the Intermediate Holding Company requirement have impacted…
Read More The next evolutionary step in US tri-party?
The road to US tri-party reform has been long and winding, and has succeeded in mitigating over 90% of daylight credit exposure formerly associated with that market. Yet, structural efficiencies…
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The Changing Market Structure of Equity Repo Financing
Equity repo is different from its more well-known cousin, government bond repo: the operations of the trade are the same but the collateral and the rationale for engagement can vary…
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Cost optimisation challenges for asset managers in 2017
Asset management may be considered a profitable business but the trend has recently been moving in the opposite direction. A new raft of challenges, ranging from MiFID II to the…
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The Five Cs of Bank and Client Success in Securities Finance
Today’s global investment banking market continues to be shaped by the need for innovation and synergies driven by an evolving regulatory landscape. We have identified the Five Cs for success…
Read More Next Steps for Hedge Funds in Cost Management
These are legitimately complex times for hedge funds. Between macropolitical turmoil, negotiating fees and managing their daily activities, hedge fund managers must pay attention to a wide range of factors…
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Collateralised Financing for the Real Economy
Financial markets were designed to support the real economy: that’s their job. Within their collateral services offering, Euronext is working to bring commodities and investment funds into the electronic collateralized…
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SFTR: Getting Down to Business on the Details
EU Regulation 2015/2365 – otherwise known as the Securities Financing Transaction Regulation or SFTR – entered into effect on January 12th, 2016. The intent behind the SFTR is straight-forward: it…
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Getting down to business in measuring counterparty credit exposure
Counterparty exposure has become an important topic for banks in the securities finance industry. What was once a fairly low-credit exposure activity, where the biggest concern was hitting a credit…
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4Sight: Solving Collateral: BCBS IOSCO Uncleared Margin Rules – How to Adapt
4Sight offers a complimentary whitepaper on BCBS IOSCO uncleared margin rules and collateral management. Continue reading
Read More Trade Date Transparency = Capital Savings
Financial markets are paying attention to capital and balance sheet as a top priority: this fact is driving trading decisions and redefining decades-old relationships. Banks and other regulated institutions are…
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DataLend: Top global trends in securities lending in 2016
The securities finance business is off to a strong start in 2016. DataLend has seen a substantial increase in on-loan values from the beginning of this year. January saw the…
Read More 4sight opens office in New York
4sight Financial Software Opens New York Office 4sight Financial Software, a leading software and consultancy provider to the Securities Finance, Swaps and Collateral Management markets has opened a new North…
Read More 4sight and DerivAsia Webinar Feb 18 – Collateral Management in Asia: The Transition Towards a Holistic Model
Collateral Management for firms trading in Asia is rapidly changing today. Regulatory requirements originating from BCBS-IOSCO are driving regional market participants to consider changing their business models and methodologies along…
Read More Prime Brokerage and Balance Sheet Optimisation: Lessons from the Societe Generale Experience
The industry-wide topic of balance sheet optimisation has hung in the air like a fog for the last three years. We at Societe Generale are now seeing what this means…
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GlobalCollateral: a global infrastructure for a new world (Part 2)
Implementation of global financial regulations is profoundly impacting flows of liquidity and collateral worldwide. Regulatory requirements, combined with increased interconnectedness between market segments and players, have made collateral processing significantly…
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Straight-through Processing and the Application of Technology in Collateral Management
Articles and reports on collateral management tend to focus on the high-level application of technology and the money to be made (or not lost) from collateral optimization. Under the hood,…
Read More Sharing Collateral Infrastructure: A Best Case Scenario for Users
The collateral management infrastructure market is evolving at a rapid pace, with new ideas emerging on a regular basis for how banks, insurance companies and fund managers can solve some…
Read More As spikes increase, is the Fed’s Reverse Repo Program beneficial or harmful to market functioning?
On June 30th, cash invested in the Fed’s reverse repo facility spiked to $339.5 billion. Market reaction to this figure was somewhat muted. Quarter ends have always been problematic for…
Read More The Net Stable Funding Ratio (NSFR) and repo market liquidity: A Basel accident or an effort at extreme risk mitigation?
On the 7th of April, Risk Magazine published a piece by Lukas Becker entitled “Repo Desks Up In Arms About NSFR.” The article explains that Basel Committee on Banking Supervision’s…
Read More The Future of RMBS Repo
A proposed US winding down of Fannie Mae and Freddie Mac has direct implications for the MBS repo markets, particularly agency repo. We dig into what the change could mean…
Read More The FICC’s (Partial) Solution to Fire Sales
Bloomberg posted a piece yesterday on a plan by the FICC to “guarantee the most-liquid assets used as collateral between dealers and investors in the tri-party system.” Although not a…
Read More Key points from Fed Chairman Yellen’s testimony to the Senate Banking Committee
Whenever the Chairman of the Federal Reserve appears before Congress, the financial press scrutinizes every phrase, analogy and statement in an attempt to divine even the slightest change in Fed…
Read More The Fed’s new rules for foreign banks and its outcomes
On Tuesday February 18 the Federal Reserve Board unanimously approved its new regulatory structure for foreign banks with significant operations in the United States. This article summarizes the rules and…
Read More A surprising new US Asset Tax Proposal and its impact on repo trading
On Tuesday, February 25th Bloomberg carried an article outlining a proposed quarterly asset tax on large financial institutions. The proposal is expected to be unveiled this week as part of…
Read More Whatever happened to the collateral transformation trade? (Part 2 of 2, Finadium subscribers only)
This post continued our thoughts on what has happened to the collateral transformation trade, including available data on US Treasuries on loan in 2013. Continue reading
Read More Whatever happened to the collateral transformation trade? (Part 1 of 2)
Following the events of 2008, numerous regulators across a broad spectrum of financial markets came to a similar conclusion: the use of high quality liquid assets (HQLA) as margin could…
Read More Reflections and comments on Clearstream’s 18th annual Global Securities Financing Summit
Clearstream held its annual GSF summit in Luxembourg on January 22nd and 23rd. The Summit encompasses repo, securities lending, collateral management and various aspects of custody and settlements. It is this broad…
Read More The European Commission releases its long awaited proposal for a repo/sec lending trade repository
On the 29th of January, the European Commission released its proposal for the establishment of a central database for Secured Financing Transactions (SLTs). The Commission goes to considerable lengths to explain…
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