Tag: Reform

TABB Says the Number of Swap Dealers Will Surge, Doubling If Not Tripling to 30 by December 2011

This is the press release for my latest research report: Top 15 OTC Derivatives Dealers Set to Spend Nearly $675 Million in 2010/2011 to Prepare Technology for Dodd-Frank OTC Derivatives Trade Execution and Central Clearing Mandates Spending May Continue into 2012 Based on Implementation Timelines Set by Regulators NEW YORK & LONDON–(BUSINESS WIRE)–With passage of […]

Risky Business (The Deal)

Central clearing for OTC derivatives has become a pretty competitive business, driven mostly by soon to be in place regulatory mandates.  This story digs into LCH.Clearnet’s postion now and going forward: “One of the biggest things holding them back is that they’re still viewed as a dealer’s club,” McPartland says. In contrast, he says the […]

Rate swap traders wait for no man (Financial Times)

Interest Rate Swaps have taken over for CDS as the OTC derivative product in focus for market participants and regulators.  They look to be the products that will see the biggest jump in clearing once new rules are in place and they also seem to be the first headed for more electronic trading.  My two […]

Putting Counterparty Risk Back in its Cage (Risk Professional Magazine)

I wrote an article in this month’s Risk Professional Magazine discussing the current state of counterparty risk concerns in the financial markets following the credit crisis and the passage of Dodd-Frank.  Please feel free to post your comments are send them to me directly at kmcpartland@tabbgroup.com.  A short blurb: The failures of Bear Stearns and Lehman […]

Commodity Futures Trading Commission: Send Money. And Power. (SeekingAlpha)

SeekingAlpha picked up my my recent quote in a Bloomberg article about proposed CCP ownership limits for dealers proposed by the CFTC. The author is right, I am flabbergasted. Kevin McPartland is justifiably flabbergasted: “What is an LCH.Clearnet going to do, that’s almost completely dealer-owned?” said Kevin McPartland, a senior analyst with Tabb Group in […]

CFTC Is Said to Propose That Banks Own 20% of Credit Swaps Clearinghouses (Bloomberg)

The Lynch Amendment is back.  The CFTC is expected to release its first set of proposed rules related to OTC derivatives reform this Friday and it is expected that those rules will include limits on dealer ownership of clearinghouses (among other things).  I get the logic, but from what we know of the expected proposal […]

WMBA, Americas Announces Panel Structure For Swap Execution Facility Conference October 4, 2010

CFTC Chairman, Gary Gensler, Other Key Regulators and Industry Leaders To Discuss Trends and Outlook in Wake of Dodd-Frank Wall Street Reform Act NEW YORK–(BUSINESS WIRE)–Wholesale Markets Brokers’ Association, Americas (WMBAA) is pleased to announce panel information for its inaugural Swap Execution Facility conference which will be held in Washington, D.C. on October 4, 2010 […]

Front Row Seat at the SEC, CFTC Hearing on SEFs

Also posted on TabbFORUM.com Wall Street (which includes yours truly) was in Washington on Wednesday (Aug 15) to discuss Swap Execution Facilities with the Securities and Exchange Commission and the Commodity Futures Trading Commission. I wasn’t the only one walking the block between Union Station, where the express train from New York arrives, to the […]

Q+A-What’s at stake for swap-execution facilities? (Reuters)

The SEF debate is certainly heating up.  These questions and more will all be discussed at the WMBAA’s “SEFCON 1” event in DC on October 4th (details to follow).  My comments in the Reuters piece: “The law calls it “a trading system or platform in which multiple participants have the ability to execute or trade […]