Day: January 16, 2019

Coolest Banks to Search the Net Sample

You can imagine that, after three decades of shooting some of the world’s best surfers, filmmaker Taylor Steele has amassed a lot of unseen footage. Like, a lot a lot. Steele started showing up to the beach with his camera back in the late ’80s/early ’90s, and not long after graduation (and subsequently meeting Kelly […]

Firms Should Revisit OTC Reporting Frameworks – Study

A new report from Tabb Group argues that with regulators becoming increasingly strict on OTC derivative trade reporting it is time for firms to consider a comprehensive review of the trade reporting process.
The report, Checking in on OTC Reporting Rules was authored by Tabb’s head of derivatives research Russell Rhoads, who points out that a key component to reducing risk levels in financial markets involves regulators having access to timely and accurate data. “With the new regulations mostly set in stone, now may be the best opportunity for firms to consider a comprehensive review of the OTC trade reporting process,” he says.

Understanding Blockchain Forks

Most published analysis of the legal consequences of blockchain forks has been underwhelming. Discussions often centre around the legal risks to miners and developers, questions of little relevance because of the general absence of contracts between users of public blockchains and the constellation of jurisdictions from which they operate. In other words, it will freeze in hell before anonymous developers based god-knows-where win a lawsuit against unidentified Chinese miners aggregated in a mining pool. I should add that several articles appeared to be advertorials by law firms looking for new business.

FIA Calls for Removal of Barriers to Clearing

The Futures Industry Association (FIA) has filed a response to the Basel Committee on Banking Supervision urging the adoption of FIA’s suggested modification to the leverage ratio and to recognise the exposure-reducing nature of client collateral in order to align regulatory incentives.
Central clearing of derivatives was a key pillar of the G20 countries response to the post-2008 financial crisis reforms to reduce systemic risk in the financial system, however FIA argues that to date, the leverage ratio’s failure to recognise collateral has had a direct negative impact on the ability of banks to provide clearing services to customers.

Hedge Funds End Tough Year with December Loss

Hedge funds dipped 2.61% in December, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions, meaning it was down 5.08% for the year.
The loss was less significant, however, than that of the S&P 500 Total Return Index, which dropped 9.03% in December, to end down 4.38% for 2018.
While lowering its projections for future interest rate hikes, the US Federal Reserve raised its benchmark rate a quarter-point in December. That, coupled with extreme volatility in equity markets was a major factor in December’s hedge fund downturn, BarclayHedge says.