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The industry is rapidly evolving . The things that may have kept you up at night last year have likely been replaced with new headlines, filled with emerging trends and market developments. Omgeo’s position among trade counterparties, industry associations and regulatory bodies gives us a unique perspective on the issues that affect our community. We are pleased to share our points of view.*
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| Events GlobalTrading Post-Trade Roundtable Thought Leader Discussion 22 May 2013 Hong Kong Omgeo to sponsor Jean Remi Lopez to speak FTF HedgeOps Conference 22, May 2013 New York, NY Omgeo to sponsor | |
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 Marianne BrownPresident and Chief Executive Officer | Shorter Securities Settlements Cycles to be Introduced in Europe 1 May, 2013 Earlier this year, the European Commission published its proposals for the regulation of central securities depositories (CSDs), the entities that operate settlement systems. The proposals, known as the Central Securities Depositories Regulation (CSDR), seek to improve settlement efficiency across European markets, and are currently working their way through the European Parliament and Council. |
 Clare FraserManaging Director, Strategic Planning | Why Market Participants Should Invest in Post-Trade Settlement Best Practices 28 March, 2013 Regulatory change can dramatically improve the global post-trade environment. But in the meantime, market participants need to embrace industry best practices. In today’s challenging market environment, the need to invest in operational infrastructure to lower risk or implement industry best practice — even if it translates to cost savings and increased efficiency in the long term — is generally outweighed by the immediate need to reduce spending or meet increasing capital requirements. |
| Marianne Brown President and Chief Executive Officer | Building the Back Office Superhighway 15 March, 2013 Market participants and regulators have focused on modernizing front-office trading systems, but nowhere is the need for increased automation more apparent than in the middle and back offices...For decades much of the industry focus has been on the need for greater automation in the front office, which has sometimes been described as a superhighway. |
 Ted LeveroniExecutive Director of Derivatives Strategy and External Relations | Why Automating Collateral Management is Good for the Markets 1 March, 2013 The derivatives markets have been under a microscope over the past few years as regulators and the industry work together to find ways to take risk out of the markets without negatively impacting returns. Evolving regulatory demands, increased investor pressure and elevated board level focus are requiring firms to bolster their operational and risk management capabilities... |
 Tony FreemanExecutive Director of Industry Relations | STP Saves Time and Reduces Cost 25 February, 2013 Since the advent of mainframes in the financial services sector, the term ‘straight-through processing’ [STP] has been with us to describe the on-going integration of the front, middle and back office, connecting parties to each trade electronically in order to reduce inefficiencies – and risk. |
| Ted Leveroni Executive Director of Derivatives Strategy and External Relations | Collateral Management: The Rise of Automation 12 February, 2013 The abundance of high-risk, complex derivative transactions in the market was one of the primary reasons for the 2008 global financial crisis, and in many instances, non-optimal collateral management processes limited firms’ ability to meet their obligations. |
 Marcello BertoliDirector of Marketing | Looking at the Big Picture in Global Wealth Management 5 February, 2013 The world of private banking is not immune to the pressures that are reshaping the financial markets. General trends, including globalisation, regulation and cost pressure indiscriminately affect most financial institutions, albeit to varying degrees. Some, on the other hand, are specific to the private banking segment. |
| Tony Freeman Executive Director of Industry Relations | T+2 Drive: Settle on Something 1 January, 2013 Amid the raft of financial market regulations that will be implemented within the next 12 to 18 months, one that deserves attention, but is somewhat overshadowed by the furore around changes in the OTC derivatives markets, is the imminent move to shorter settlement cycles. The subject is now firmly back on the agenda in the US, and has received additional attention following the publication of the Boston Consulting Group’s cost benefit analysis of shortening the settlement cycle. |
| Ted Leveroni Executive Director of Derivatives Strategy and External Relations | Automating Markets in a Regulated World 12 November, 2012 One of the initial goals of regulations such as Dodd-Frank and EMIR was to make the markets simpler. In reality, however, they are making things increasingly more complicated. In fact, many believe that regulations are creating the need for more automation across the financial markets, as without more technology, the evolving regulatory mandates will be too difficult to manage. |
 Kevin ArthurDirector, Fixed Income | Global Search for Returns 10 September, 2012 A combination of decreased returns and uncertainty is forcing investors and asset managers to look beyond their domestic market for fixed income investing opportunities. This is a strategy not without risk, however, as investors looking to invest in foreign markets must be prepared to face additional investment and operational challenges associated with these cross-border opportunities. |
| Kevin Arthur Director, Fixed Income | With More Fixed Income Assets to Manage, Automation Key for Buy side 3 October, 2012 The fixed-income markets have changed immensely over the past decade. There have been several underlying macro-economic, political and demographic factors that have fundamentally shifted risk profiles, resulting in greater interest in fixed income at both an institutional and retail level. |
| Marianne Brown President and Chief Executive Office | Collateral Crunch 27 August, 2012 At the heart of Europe’s efforts to reduce risk and increase transparency in the financial markets, as mandated by the G20, is the proposed requirement for ‘eligible’ derivatives transactions to be cleared through entities known as clearing houses or central counterparties (CCPs). It is not yet known how many derivatives products will be deemed eligible for central clearing or how many will remain bilaterally cleared, but with six months to go before the G20 deadline and remaining uncertainty, the requirement looks set to create significant challenges for all market participants, including pension funds. |
| Ted Leveroni Executive Director of Derivatives Strategy and External Relations | Are You Covered? Managing Collateral in the New World 27 July, 2012 Most market participants recognize the risk mitigating impacts of mandated central clearing of over-the-counter derivative transactions. Regulations such as Dodd-Frank in the U.S. and EMIR in Europe are complex and along with anticipated effects, there will be many unintended consequences. One area that has the industry talking is the potential for a shortage of eligible collateral. |
 Sheldon WarrickExecutive Director, Relationship Management | Keeping Watch Downstream 23 July, 2012 The creation of wealth in Latin America, through stable economic growth, has resulted in a burgeoning domestic fund management industry, making it an established and important constituent in the global investment community. |
| Tony Freeman Executive Director of Industry Relations | All Good Things Come to Those Who Wait 11 July, 2012 T2S, the European Central Bank's (ECB) European-wide project to harmonise cross border securities settlement process and reduce capital markets' transactions costs, has been a long time in the making. Given the scale and scope of the project it is not surprising that progress has been laboured. In particular, a pre-requisite for T2S implementation is a harmonised settlement cycle in Europe, which will signify a major change to European market infrastructure that is being addressed through the Central Securities Depository (CSD) regulation. |
 Matt NelsonExecutive Director, Strategy | Putting the 'Means' Before the 'End' 7 July, 2012 It is no secret that there is a global shift towards shorter settlement cycles to reduce risk across markets. Recently, the European Commission (EC) brought shorter settlement cycles to the forefront by proposing that securities must settle no later than the second business day after a trade takes place - or what is commonly referred to as T+2 - by 2015. The proposed regulation would install a consistent clearing and settlement method across all 27 markets in the EU. |
| Marianne Brown President and Chief Executive Office | U.S. Trade Settlement Must Be Faster 7 June, 2012 Many may be surprised to know that the time it takes to process financial trades in a number of major markets around the world is still three business days or more – a lifetime compared to other everyday instant transactions. Yet that is the delay that market participants currently face. The sooner a trade can be confirmed and settled, the quicker the counterparties to the trade can exchange money and securities and eliminate counterparty risk – critical components to decreasing uncertainty around the world and freeing up capital for reinvestment. |
| Matt Nelson Executive Director, Strategy | Hedge Funds and Regulation - In or Out? 22 March, 2012 Much of discussion on the regulatory changes facing the financial industry in 2012 and beyond has focused on high profile topics such as systemic risk, bank capital and OTC derivatives. Not only are these topics interesting to the masses, they’re also where regulators and the public have pointed their fingers when handing out blame for the crisis. What many may not realize is that these global regulations, including Dodd-Frank in the US and EMIR and the AIFMD in Europe, will also have a profound and wide-reaching impact on hedge funds – and the unintended consequences on this industry may be severe. |
| Tony Freeman Executive Director of Industry Relations | Europe's Move to T+2 20 March, 2012 Today, the European Commission published its proposal for improving securities settlement and access to central securities depositories (CSDs), the entities that operate settlement systems. The proposed rules - which now go to the European Parliament and Council for discussion and negotiation - would require trades to be settled within two days of the trade date (T+2) and introduce financial penalties for trades which fail to settle on time. |
| Ted Leveroni Executive Director of Derivatives Strategy and External Relations | Collateral is King 12 March, 2012 The age of central counterparties (CCPs) is now well and truly entrenched in the fabric of financial markets infrastructure. The entities have already had ramifications for the buy-sides’ collateral management strategies, but change is in the offing as the final rules and details impacting collateral management of OTC derivatives are being ironed out in Dodd-Frank, MiFIR, Basel III and the CPSS/IOSCO. |
| Ted Leveroni Executive Director of Derivatives Strategy and External Relations | Moving to a Centralized Collateral Management Environment: The Way Forward 1 March, 2012 Regulatory initiatives mandating central clearing of standardized OTC derivatives require market participants to pledge and manage margin calls more frequently. This, combined with the limitations on assets eligible for use as initial margin, is leading firms to explore ways to consolidate collateral across asset classes. |
| Marianne Brown President and Chief Executive Officer | Of Global Crises and Financial Stability - Questions to be Answered in 2012 27 February, 2012 February is the new January. With Davos firmly behind us, February seems like a good month to take stock of the issues discussed at the World Economic Forum and those which will likely be the big questions to be answered in 2012. |
 Hasan RaufSales Director, Asia Pacific | Operational Challenges for Asian Banks and Wealth Managers 14 February, 2012 One of the biggest challenges in wealth management and private banking is the establishment of effective operational practices. And as Asia’s private wealth industry evolves, operations managers are becoming increasingly focused on how they manage their processes across the entire lifecycle of a trade. |
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| *All posts by the author, guest author and visitors reflect their personal thoughts and opinions which are not necessarily those of Omgeo. Omgeo is not responsible for any inappropriate, offensive, harmful or unlawful remarks such persons might make when expressing their personal views on a matter. |
