ESMA updates Brexit statements which addresses the impact on reporting under EMIR and SFTR

The European Securities and Markets Authority (ESMA) has issued a range of updated statements to address the impact on reporting under the European Market Infrastructure Regulation (EMIR) and the European Union (EU) Securities Financing Transaction Regulation (SFTR). This follows the previously published documents which were in prepared as a contingency for a no-deal Brexit scenario […]

The Bank for International Settlements release the OTC Derivatives Statistics for end-June 2020

On Monday 9thNovember 2020, the Bank for International Settlements (BIS) released their OTC Derivatives Statistics Report for June-end 2020, covering key data across the OTC and centrally cleared derivatives markets. The BIS statistics are an important and unique source of data about the structure of and activity in the global financial system. Compiled in cooperation […]

EMIR reporting validation rules to be applicable from March 2021

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has recently postponed the applicability date of the updated EMIR validation rules which were originally to be applicable from the from 1st February 2021. The new date has now been set to 8th March 2021. Due to technical issues related to the implementation […]

The CFTC and the BOE sign a new MOU for the supervision of Cross-Border Clearing Organizations

On Tuesday 20 October 2020, the Commodity Futures Trading Commission (CFTC) and the Bank of England (BoE) announced that an updated Memorandum of Understanding (MoU) has been signed between the two regulators concerning the “Cooperation and the exchange of information related to the supervision of cross-border clearing organizations”. The MoU aims to further strengthen the […]

CCPs transition away from USD Libor to the Secured Overnight Financing Rate

With USD Libor transitioning to the Secured Overnight Financing rate (SOFR) by the end of 2021, Central Counterparties (CCPs) which reference this rate for certain derivatives contracts have begun their transition from the previous interbank offered rates (IBORs) to the new reference rates which will underpin countless financial transactions. The SOFR discounting transition has been […]

The Division of Market Oversight at the CFTC announces Swaps transaction and pricing data reporting relief to DCOs

On October 13th, 2020, the  Division of Market Oversight at the Commodities Futures Trading Commission (CFTC) announced it has provided swaps transaction and pricing data reporting relief to certain derivatives clearing organisations (DCOs) and market participants participating in upcoming DCO auctions. This follows a series of support provided since December 2019 where the CFTC was […]