Tag: Reform

Reforms may help some brokers (The Hill)

It is inevitable that some portion of the OTC derivative market will see an execution mandate.  I have been an outspoken believer that this change will happen at the hand of Swap Executions Facilities (SEF) much more so than traditional exchanges.  This article in the Hill discusses the political angle of this move towards an […]

Wall Street Eyes Moving Trading to Switzerland (ABC News)

If OTC Derivatives reform is passed as it is in the Senate there is a real chance the majority of OTC derivative trading that goes on today in the US will move offshore.  This might sound like a great outcome to those that believe derivatives are the root of all evil, however the reality is […]

Industry Looks To House, Regulators (Derivatives Week)

Doesn’t sound like anyone is particular excited about the bill passed last week in the Senate.  Even only half of the Senate (the Democrats) seems to like the final product.  My comments in the article: Some industry professionals believe Sen. Blanche Lincoln’s provision requiring banks to spin off their swaps desks will get kicked out […]

Getting the Hill out of the Street

My thoughts on the Senate’s passage of Financial Reform – originally posted on TabbForum.com The US Senate has passed its version of financial regulatory reform that will include serious changes, some expected, some not, specific to the OTC derivatives market.  The passage of this bill will lead to a compromise bill created jointly by the […]

Preparing for OTC Derivatives Regulation – Q&A (DerivAlert.org)

This is based on an interview I did with TradeWeb’s DerivAlert.org site a few weeks back.  An excerpt: Q: Will the OTC derivatives provisions in the Senate’s bill be a major sticking point in the floor debate? A: It will. For some time it seemed that things like “too big to fail” and consumer protection would […]

Financial Reform: Half Done; Two-Thirds to Go

Originally posted on TabbForum Last week the Senate finally agreed to allow S.3217, the “Restoring American Financial Stability Act of 2010,” to be debated openly on the floor of the Senate.  Since overcoming that procedural hurdle, progress has been relatively swift and the bill is expected to be passed by the Senate before Memorial Day.  […]

Political Grandstanding: Wall Street Slams Goldman Sachs Hearings (ABC News)

I don’t have enough information to make an accurate call on the issues between the SEC and Goldman Sachs, but it appears from this ABC News article that my broad thoughts on the issue are pretty common all around lower Manhattan.  There needs to be two sides to every trade: Kevin McPartland, senior analyst at […]

CFTC Position Limits Push Could Hit Wall (Futures Magazine)

The industry disagrees on various parts of financial reform, but few in the industry seem to disagree that position limits as proposed by the CFTC are not a good thing.  The outcome of broader financial reform will certainly have an impact on how this finally plays out, but with such strong consensus that position limits will limit […]

OTC Derivatives in the Land of the Rising Sun

Originally posted on TabbForum.com Only the United States and Europe matter – at least that has been the view surrounding OTC derivatives reform.  With CFTC Chairman Gary Gensler reiterating in a recent speech that a “significant majority” of OTC derivative trading is happening in the US and Europe, it is easy to see why Americans […]