Swaps Data Deal Under Dodd-Frank Wins 89% Market Share for DTCC (Bloomberg)

Last week we learned that ISDA decided they would endorse DTCC as the swaps data repository for interest rate products, essentially shutting down the repository…

Bank Margins at Risk as EU Probes Credit-Default Swaps Market

It seems regulators are again after the evil dealers.  Since dealer to dealer trading accounts for most of the volume in the CDS market, and…

CFTC Proposal to Change Futures Margin Payments May ‘Kill’ Brokerage Model (Bloomberg)

The CFTC is thinking about extending some of its proposed margin rules for OTC derivatives clearing to the futures market. The part that matters here…

Tullett, Tradition Talks Are Said to Hit Snag Over Price (Bloomberg)

It seems SEF consolidation has already begun, even though SEFs are technically yet to exist.  I think this kind of consolidation is inevitable, and it…

Israeli Startup Correlix's Technology Selected for Direct Edge Exchanges (Bloomberg)

I’ve spoken quite a bit about latency metrics and latency transparency in the past few months including conversations with both Corvil and Correlix.  It seems…

CBOE Files to License Pulse Trading Workstation to Member Firms (Bloomberg)

Not sure I get this one – why is CBOE filing to charge clients for a trading front end in an environment where exchanges are…

Dropping Swaps Plan for Volcker Rule May Not Reduce Bank Risk (Bloomberg)

Some think its too much and some think its too little.  Either way the proposals don’t seem good for the market and its feeling more…

Swaps Dealers Prepare Defense as Obama Predicts ‘Big Battle’ (Bloomberg)

The OTC derivative reform debate has clearly moved from one over market structure to one over politics.  Whether one is a Republican or Democrat should…

SunGard Unveils Valdi Order System With Global Focus (Bloomberg)

SunGard took its BRASS sell side OMS and combined it with the recently purchased GL Trade to make their new platform, called Valdi.  Sungard will…

Hedge Funds Face Higher Capital Requirements Under Senate Bill (Bloomberg)

A tightening up of  end user exemptions would have more hedge funds falling under proposed capital requirements and OTC derivative clearing and execution mandates.  This…