Come March, CDS clearing will have been available for a full year. After months of political pressure and industry commitments, open interest for cleared CDS is well into the billions, volumes are well into the trillions, three clearinghouses are officially live and industry estimates (including those of TABB Group) show that CDS clearing will generate […]
Tag: OTC Derivatives
Wall Street Letter – Tweeting with @WallStLetter—Collateral Management
Wall Street Letter conducted its first “twitterview,” or an interview over Twitter.com, on Feb. 27 on transparency and efficiency in the collateral management process. Managing editor Jeanene Timberlake tweeted with John Avery, a partner at SunGard Consulting Services, and Kevin McPartland, an analyst at the TABB Group, on how buy- and sell-side concerns have changed […]
Securities Industry News – Derivatives Regulation Could Be Bonanza for Clearing Houses
“The major issues will stay pretty close to what they are in the House,” says Kevin McPartland, a senior analyst at New York-based research firm Tabb Group and author of “OTC Derivatives Regulatory Update,” a report released January 11 on the outlook for derivatives regulation and its impact on the industry. McPartland says clearing houses […]
GeithnerGate: Love Him or Leave Him?
An investigation into the government rescue of AIG unearthed emails showing that the NY Federal Reserve, at that time under the control of now Treasury Secretary Timothy Geithner, strongly encouraged AIG to hold back public announcement of parts of its derivatives portfolio and the billions in collateral payments it made to its dealer counterparties. Many […]
Tax Avoidance or Smart Investing?
What else can derivatives be blamed for? OTC equity derivatives are now in the spotlight of the IRS for promoting tax avoidance. The theory is that an equity swap allows the purchaser to collect dividends on the “swapped” stock without paying the taxes associated with actually owning that stock. I can certainly see the merit […]
The Trade – OTC derivatives reforms to accelerate automation
“The automation that will result from standardisation of OTC derivatives will make it easier to get fair prices, as well as making it simpler to trade and clear them using electronic means,” Kevin McPartland, senior analyst, TABB Group and author of a recent paper titled ‘OTC Derivatives US Regulatory Update’ told theTRADEnews.com. Full Story Here
Compliance Reporter – TABB: Derivatives Rules Coming This Summer
The bill that eventually emerges from the Senate will resemble the House of Representatives’ bill on most major issues, but there are several details that will be hotly debated, McPartland wrote in a recent report. “Exemptions will be a big issue–i.e. which end users will be exempt, even which buyside firms might be exempt,” he […]
Risk.net – Number of OTC derivatives dealers could double after US reforms
At the moment, there are 15 major dealers in OTC derivatives, according to Kevin McPartland, a senior analyst at the TABB Group and author of a new study,OTC Derivatives U.S. Regulatory Update. He believes the number of major dealers could expand to as many as 30 over the next two to five years, as “the […]
SIN – In Icap's World,Offense is the Best Defense Best Defense
Inter-dealer brokers (IDBs) execute about half of all OTC derivatives trades occurring between dealers; the rest, the dealers trade directly between each other. Language in the House bill could give the IDBs the remaining 50 percent of the market in dealer-to-dealer OTC derivatives trading, according to Kevin McPartland, senior analyst at the Tabb Group. McPartland’s […]
TABB Group Pinpoints the OTC Derivatives Regulatory Impact of The Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173)
McPartland analyzes the language of the bill, describes what the OTC derivatives reforms can mean for the marketplace and what lies ahead once the Senate passes their version of the bill by early summer 2010 before a compromise bill is readied for President Obama’s signature. “Depending on the complexion of the bill enacted,” he says, “there […]