EMIR

Cboe Clear Europe Receives Permanent Recognition as a non-UK Central Counterparty

Retrieved on: 
Thursday, January 12, 2023
Chicago, Bank, Participation, Cboe Global Markets, CCP, De Nederlandsche Bank, EMIR, CCPS, European Market Infrastructure Regulation, CBOE, Interim, Security (finance), Brexit, EU

AMSTERDAM and LONDON, Jan. 12, 2023 /PRNewswire/ -- Cboe Global Markets Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced that Cboe Clear Europe, its Amsterdam-based clearing house, has received permanent recognition by the Bank of England to operate as a central counterparty (CCP) in the UK.

Key Points: 
  • AMSTERDAM and LONDON, Jan. 12, 2023 /PRNewswire/ -- Cboe Global Markets Inc. (Cboe: CBOE), a leading provider of global market infrastructure and tradable products, today announced that Cboe Clear Europe, its Amsterdam-based clearing house, has received permanent recognition by the Bank of England to operate as a central counterparty (CCP) in the UK.
  • Arnoud Siegmann, Interim President and Chief Operating Officer, Cboe Clear Europe, said: "We are delighted to announce the removal of Brexit uncertainty for UK-based clearing members and UK trading venues that wish to continue to access Cboe Clear Europe and benefit from its services on a permanent basis.
  • Cboe Clear Europe, which is an EU-authorised CCP under the European Market Infrastructure Regulation (EMIR), is the first non-UK CCP to achieve permanent recognition by the Bank of England.
  • Cboe Clear Europe operates as an independent subsidiary of the Cboe group, retaining a separate governance structure and management team.

ESMA publishes latest edition of its newsletter

Retrieved on: 
Thursday, January 19, 2023
Transfer, European Securities and Markets Authority, ESMA, DLT, EU Ecolabel, XBRL, Publication, EMIR, Undertakings for Collective Investment in Transferable Securities Directive 2009, ESEF, Assessment, RTS, Committee, Periodical literature, Risk management, EU, Brexit

ESMA publishes latest edition of its newsletter

Key Points: 
  • ESMA publishes latest edition of its newsletter
    The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of its Spotlight on Markets Newsletter.
  • Your one-stop-shop in the world of EU financial markets focused on the launch of the new visual identity.
  • ESMA is all about fostering the effectiveness and stability of EU markets, and enhancing the protection of retail investors, both through strengthened supervision.
  • In addition, ESMA also published an Opinion on the proposed position limits for the ICE Endex Dutch Title Transfer Facility Gas contracts.

Financial stability risks from energy derivatives markets

Retrieved on: 
Saturday, November 26, 2022
ES, COVID-19, CCPS, Instant messaging, Environment, Electricity, ETD, Review, OTC, NFC, A.7, Oil crisis, Emergency, CSA, Risk, VM, Calibration, NACE, Economics, Policy, A.5, Natural gas, Royal commission, Commodity, CCP, European Commission, EFS, Contract, Steam, European, Coal, Time, OFI, ECB, EMIR, Atmosphere, Brookings Papers on Economic Activity, Coronavirus, EEX, Finance, European Energy Exchange, Pressure, Renewable energy, Security (finance), Oil, Bookkeeping, Agriculture, Public utility, Instrumentation, Bank, Financial services, EU, A.3

= Financial stability risks from energy derivatives markets =

Key Points: 
  • = Financial stability risks from energy derivatives markets =
    Published as part of the Financial Stability Review, November 2022.
  • Energy sector firms use energy derivatives under different strategies, depending on their main area of activity, business model and exposure to risk in physical markets.
  • The significant volatility and a surge in prices seen in energy markets since March 2022 have resulted in large margin calls, generating liquidity risks for derivatives users.
  • European energy prices and stylised representation of players active in the physical energy market

    Sources: Bloomberg Finance L.P. and ECB staff calculations.

  • The extreme price movements over recent months highlight the importance of energy derivatives markets for hedging risks in the energy sector, as well as some of the pressures that can arise in these markets.
  • This special feature provides an overview of the European energy derivatives market, with a focus on natural gas and power.
  • It analyses the impact of extreme energy prices on the structure of energy markets, the liquidity stress faced by entities with the largest exposures to market risk and the risks that their vulnerabilities may pose to their counterparties in derivatives and credit markets.
  • Energy sector companies are key users of energy derivatives, and the number of firms active in the market has increased in 2022.
  • Of the 1,700 firms active in the euro area energy derivatives market between September 2021 and October 2022, a quarter belong to the energy production chain, meaning they are extracting oil and gas or distributing energy.
  • On average, the number of firms active in energy derivatives increased by 30% between January and September 2022.
  • Most positions belong to a few large utilities or energy companies which use derivatives to hedge their operations against market risk.
  • [5] Such a high concentration of positions might raise financial stability concerns, as it increases the risk of disorderly market functioning.
  • [6] In general, energy derivatives require relatively high margining, reflecting the generally large volatility of energy prices.
  • Overview of direct and indirect risks from increased volatility in energy markets and gross exposures in energy derivatives per market segment

    Sources: EMIR data and authors calculations.

  • Commodity swaps traded in OTC markets can partially mitigate energy firms liquidity needs as margins are lower for bilaterally cleared trades.
  • A more significant shift by utilities and energy firms towards the OTC space would imply greater risks for counterparties and the financial system.
  • Some firms trading energy derivatives are relying on bank credit to deal with the consequences of rising energy costs.
  • Overall, this evidence might signal energy firms needs to finance inflated working capital, precautionary inventories and high liquidity demand on energy spot and derivatives markets ( Chart A.7, panel a).
  • A quarter of energy firms deal with the same set of banks for obtaining credit and client-clearing services for derivatives.

New S&P Global Market Intelligence global survey finds stark contrast between European and US financial regulation readiness

Retrieved on: 
Tuesday, November 15, 2022
SFDR, Automation, Technology, SPGI, EMIR, Organization, S&P Global, Commodity Futures Trading Commission, Industry, NYSE, Smart contract, Multimedia, CFTC, Program, Refit, S, Rewrite, Tier 1, European Market Infrastructure Regulation, Office of Global Regulatory Operations and Policy, Renewable energy, Fine chemical, Cryptocurrency, Risk management, EU

NEW YORK, Nov. 15, 2022 /PRNewswire/ -- While the importance of global regulatory reporting continues to increase, there is a noticeable contrast between readiness across geographies, according to the S&P Global Market Intelligence Global Regulatory Reporting Survey, published today.

Key Points: 
  • NEW YORK, Nov. 15, 2022 /PRNewswire/ -- While the importance of global regulatory reporting continues to increase, there is a noticeable contrast between readiness across geographies, according to the S&P Global Market Intelligence Global Regulatory Reporting Survey, published today.
  • "The survey results indicate that more than a year ahead of implementation, those firms with EMIR Refit reporting requirements are taking a proactive approach to regulatory readiness," said Igor Kaplun, Head of Cappitech Business Development, S&P Global Market Intelligence.
  • Conducted by S&P Global Market Intelligence Cappitech, the survey found that 99% of respondents indicate having reporting obligations in at least two jurisdictions.
  • S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI).

ESMA to withdraw the recognition decisions of six Indian CCPs

Retrieved on: 
Friday, November 11, 2022
Review, IICC, CCPS, International Financial Services Centre, European Market Infrastructure Regulation, Reserve Bank, Clearing Corporation, TC, ESMA, RBI, Securities and Exchange Board of India, NSE, CCIL, ICCL, European Securities and Markets Authority, EMIR, Union, Article, SEBI, Security (finance), Reserve Bank of India, Financial adviser, EU, Limited

ESMA to withdraw the recognition decisions of six Indian CCPs

Key Points: 
  • ESMA to withdraw the recognition decisions of six Indian CCPs
    The European Securities and Markets Authority (ESMA), the EUs financial markets regulator and supervisor, today announces that six central counterparties (CCPs) established in India will have their recognition decisions withdrawn in accordance with the European Market Infrastructure Regulation (EMIR).
  • ESMA had to tier and review the recognition of all third country CCPs (TC-CCPs) that had been recognised prior to 21 September 2020, in accordance with EMIR (Article 89(3c)).
  • As a result, ESMA concludes that these TC-CCPs cannot continue to be recognised in the European Union under the currently applicable EMIR regime.
  • To mitigate the adverse impacts on EU market participants, ESMA will defer the application of the withdrawal decisions until 30 April 2023.

1 Day Regulatory Reporting for EMIR, MIFIR and SFTR Course (October 6th, 2022)

Retrieved on: 
Friday, September 30, 2022
CSSF, TRS, FCA, Compliance, CCPS, City, MAR, ESMA, Wild Arms, SFTR, EMEA, Directive 2014/65/EU, Clearing house (finance), EMIR, APAC, Brexit, Risk, Cryptocurrency, Financial services, Risk management, Security (finance), EU

DUBLIN, Sept. 30, 2022 /PRNewswire/ -- Final days to register for the "Regulatory Reporting for EMIR, MIFIR and SFTR" training course that has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Sept. 30, 2022 /PRNewswire/ -- Final days to register for the "Regulatory Reporting for EMIR, MIFIR and SFTR" training course that has been added to ResearchAndMarkets.com's offering.
  • This practical 1 day course conducted by a senior City expert covers regulatory reporting requirements for the three main regulations: EMIR, MiFIR and SFTR.
  • This training session covers the key challenges encountered by banks, broker dealers, asset managers and hedge funds, key lessons learnt in implementing trade and transaction reporting, and successful remediation of any issues.
  • This workshop covers all aspects of regulatory reporting, from organisational scope, to data validation, data sourcing, counterparty and entity identification, and asset class/instrument identification - and resulting impact to Front, Middle and Back Office processes.

KEREN AVIDAR NAMED INX GLOBAL GENERAL COUNSEL

Retrieved on: 
Wednesday, September 28, 2022
Adoption, Corporation, FINRA, CFTC, Person, Cryptocurrency, Legislation, NEW, Intention, OTCQB, Compliance, Growth, News, Smart contract, INX Media case, Industry, Commodity Futures Trading Commission, Avidar, Environment, Phrase, U.S. Securities and Exchange Commission, CEO, NEO, Broker-dealer, Leadership, ESMA, Financial Industry Regulatory Authority, NEO Exchange, Science and technology in Asia, Solution, Family, Israel Bar Association, SEC, International, Blockchain, EMIR, INX, Financial adviser, Audit

NEW YORK and TORONTO, Sept. 28, 2022 /PRNewswire/ -- The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF) ("INX"), a broker-dealer and inter-dealer broker, announced today that Keren Avidar has joined INX as Global General Counsel. In her new role at INX, Avidar will employ decades of experience working in high-ranking leadership positions at prestigious law firms worldwide to provide legal, compliance and regulatory guidance as the company continues to shape the future of the digital economy.

Key Points: 
  • Renowned Corporate and Regulatory Attorney Brings Two Decades of Legal Expertise in International & U.S. Financial Markets to INX Leadership
    NEW YORK and TORONTO, Sept. 28, 2022 /PRNewswire/ -- The INX Digital Company, Inc. (NEO: INXD, INXATS: INX,OTCQB: INXDF ) ("INX"), a broker-dealer and inter-dealer broker, announced today that Keren Avidar has joined INX as Global General Counsel.
  • "We welcome Ms. Avidar to the INX family and are thrilled to have the opportunity to leverage her pristine reputation as one of the finest legal minds in global digital finance," said Shy Datika, CEO of INX.
  • As INX's Global General Counsel, Avidar will be involved in all aspects of the company's legal, regulatory and compliance matters.
  • At INX, we believe that the regulatory framework is intended to protect investors and preserve financial stability, which allows for greater growth and adoption," said Keren Avidar, INX's Global General Counsel.

KEREN AVIDAR NAMED INX GLOBAL GENERAL COUNSEL

Retrieved on: 
Wednesday, September 28, 2022
Adoption, Corporation, FINRA, CFTC, Person, Cryptocurrency, Legislation, NEW, Intention, OTCQB, Compliance, Growth, News, Smart contract, INX Media case, Industry, Commodity Futures Trading Commission, Avidar, Environment, Phrase, U.S. Securities and Exchange Commission, CEO, NEO, Broker-dealer, Leadership, ESMA, Financial Industry Regulatory Authority, NEO Exchange, Science and technology in Asia, Solution, Family, Israel Bar Association, SEC, International, Blockchain, EMIR, INX, Financial adviser, Audit

NEW YORK and TORONTO, Sept. 28, 2022 /PRNewswire/ -- The INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF) ("INX"), a broker-dealer and inter-dealer broker, announced today that Keren Avidar has joined INX as Global General Counsel. In her new role at INX, Avidar will employ decades of experience working in high-ranking leadership positions at prestigious law firms worldwide to provide legal, compliance and regulatory guidance as the company continues to shape the future of the digital economy.

Key Points: 
  • Renowned Corporate and Regulatory Attorney Brings Two Decades of Legal Expertise in International & U.S. Financial Markets to INX Leadership
    NEW YORK and TORONTO, Sept. 28, 2022 /PRNewswire/ -- The INX Digital Company, Inc. (NEO: INXD, INXATS: INX,OTCQB: INXDF ) ("INX"), a broker-dealer and inter-dealer broker, announced today that Keren Avidar has joined INX as Global General Counsel.
  • "We welcome Ms. Avidar to the INX family and are thrilled to have the opportunity to leverage her pristine reputation as one of the finest legal minds in global digital finance," said Shy Datika, CEO of INX.
  • As INX's Global General Counsel, Avidar will be involved in all aspects of the company's legal, regulatory and compliance matters.
  • At INX, we believe that the regulatory framework is intended to protect investors and preserve financial stability, which allows for greater growth and adoption," said Keren Avidar, INX's Global General Counsel.

1 Day Regulatory Reporting for EMIR, MIFIR and SFTR Course (October 6th, 2022) - ResearchAndMarkets.com

Retrieved on: 
Friday, July 29, 2022
Training, Education, SFTR, CSSF, Brexit, EMIR, Wild Arms, FCA, Compliance, Risk, City, ESMA, MAR, APAC, EMEA, Directive 2014/65/EU, TRS, CCPS, Clearing house (finance), Cryptocurrency, Financial services, Risk management, Security (finance), EU

The "Regulatory Reporting for EMIR, MIFIR and SFTR" training has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Regulatory Reporting for EMIR, MIFIR and SFTR" training has been added to ResearchAndMarkets.com's offering.
  • This practical 1 day course conducted by a senior City expert covers regulatory reporting requirements for the three main regulations: EMIR, MiFIR and SFTR.
  • This training session covers the key challenges encountered by banks, broker dealers, asset managers and hedge funds, key lessons learnt in implementing trade and transaction reporting, and successful remediation of any issues.
  • This workshop covers all aspects of regulatory reporting, from organisational scope, to data validation, data sourcing, counterparty and entity identification, and asset class/instrument identification - and resulting impact to Front, Middle and Back Office processes.

ESMA Recognizes OCC as Tier 1 Third-Country Central Counterparty Under EMIR

Retrieved on: 
Thursday, June 30, 2022
Banking, Other Professional Services, Professional Services, Finance, CCP, Options Clearing Corporation, CFTC, Federal Reserve Board of Governors, European Commission, Growth, Federal Reserve, U.S. Securities and Exchange Commission, European Securities and Markets Authority, OCC, Structure of the Federal Reserve System, CCPS, Royal commission, European Market Infrastructure Regulation, EMIR, SEC, House, Board, ESMA, Capital Markets Authority of Saudi Arabia, Bank

OCC, the world's largest equity derivatives clearing organization, today announced that the European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has granted recognition to OCC as a Tier 1 third-country central counterparty (TC-CCP) under Article 25 of the European Market Infrastructure Regulation (EMIR).

Key Points: 
  • OCC, the world's largest equity derivatives clearing organization, today announced that the European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has granted recognition to OCC as a Tier 1 third-country central counterparty (TC-CCP) under Article 25 of the European Market Infrastructure Regulation (EMIR).
  • We are gratified that our current and future clearing members affiliated with European banks have clarity on the regulatory treatment of their exposures to OCC.
  • The Options Clearing Corporation (OCC), named Risk Magazines 2022 Clearing House of the Year, is the world's largest equity derivatives clearing organization.
  • OCC has more than 100 clearing members and provides central counterparty (CCP) clearing and settlement services to 19 exchanges and trading platforms.