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 language is up for quite a fight in the Senate still, as the definition of “Major Swap Participant” will have major implications for the financial markets post-reform, but it seems […]
Tag: Bloomberg
Dodd Swaps Bill May Give Trading Edge to CME, ICE (BusinessWeek)
Since the OTC derivative reform debate began, Washington and Wall Street have argued about whether it makes sense to move certain OTC derivative products onto exchange platforms for execution. The Dodd bill seems to think this is the way to go, whereas the House Bill has a better grasp on the idea of non-exchange electronic […]
‘Stricter’ OTC Derivatives Bill Expected, Morgan Stanley Says (Bloomberg)
Turned out the Dodd bill published on Tuesday was a bit of a non-event for OTC derivatives reform. Looks like the forthcoming amdendment from Sens. Reed and Gregg will lay out the real details for OTC derivatives. Even still, some interesting differences do exist between the wording in the House and Senate bills. My comments […]
Bloomberg – Goldman Sachs Demands Derivatives Collateral It Won’t Dish Out
Between AIG and the push for central clearing of OTC derivatives, collaterals has become a pretty hot topic lately. Yet again the focus is on Goldman, with claims that while they are demanding more collateral from trading counterparties they are unwilling to post the same levels of collateral on their own trades. And as with […]
Bloomberg – Fed Fails to Get Swap Users to Accept Clearinghouse Target
The buy side doesn’t want to commit to clearing targets, nor should they have to. This is about reducing systemic risk, and arguably that comes from the interconnectedness of the dealers. My comments in the article: Now, some firms may be having second thoughts, said Kevin McPartland, a senior analyst at Tabb Group in New […]
Bloomberg – Goldman Tops JPMorgan as Best Broker as Speed Shakes Up Trading
Goldman’s technology and its access to a large pool of potential buyers and sellers help it to search for — and find — liquidity at the best price for customers. “The winning brokers coordinated across trading desks within their company,” says Kevin McPartland, a senior analyst at New York-based Tabb Group. “Their software-development and server technology teams […]
Bloomberg – Regulatory Budgets No Match for Banks in OTC Push, TABB Says
U.S. regulators will need budget increases “orders-of-magnitude larger” than current levels to police trades in the $592 trillion over-the-counter derivatives market, according to Tabb Group analyst Kevin McPartland. Full Article Here TABB Group Report Here