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Category: Commentary
OTC Derivatives Reform Update: The Senate Ag Bill
The forthcoming bill from the Senate Ag committee seems to take us back to early 2009 when legislators thought the entire OTC derivatives market could be moved on exchange. All I smell here is politics, and a huge lack of effort to create the best new system for regulating derivative, instead thinking only about re-election. […]
The "New" Exchanges: Fast, Faster, Fastest
I originally wrote this article for FIX Global Magazine. You can download the PDF here and read the full version at TabbForum.com. High frequency traders are not the only ones trying to get faster. The last few years have seen exchanges enter an arms race for speed that rivals the most sophisticated trading shops in […]
Shining Light on the Clouds (TabbForum)
Originally posted on TabbForum.com Cloud computing has a long way to go before it is widely adopted on Wall Street, but people on Wall Street certainly want to talk about it. In the last month, I have spoken at two conferences focused on adoption of cloud computing by financial services firms, one hosted by the […]
OTC Derivative Reform – Coming up to the Majors?
On March 14, 2010 Senator Dodd and the Senate Banking Committee released their latest Financial Reform Bill. Broadly speaking, the few hundred pages of this bill dedicated to reforming the OTC derivatives market showed few major changes from either the previous Senate bill release in November 2009 or the House Bill passed in December 2009. This does not come as much of a surprise as the major tenets of OTC derivative reform appear to be decided – standardized products will be traded through a registered platform and centrally cleared, dealers will register with the SEC and/or CFTC based on the products they trade and all OTC derivatives trades not cleared will be reported to a trade repository and subject to margin requirements. The devil however, continues to be in the details.
OTC Derivative Reform – What to expect from the Senate Bill
The Senate via Sen. Dodd is expected to make public its latest financial reform bill. Although overshadowed in recent weeks but talk of consumer protection an “to big to fail”, the bill will include details of OTC derivative reform. In this video I discuss what we expect, and hope, to see in the Senate’s version […]
Torn on Bank Fees: Good or Evil?
This week I received a letter in the mail from my bank that my checking account fees would no longer be waved based on of our use of direct deposit and online bill pay. This comes on the back of new credit card fees for those with a balance BELOW a certain limit and a […]