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The Post Trade Forum's aim is to propagate debate and discussion between senior practitioners in Post Trade Operations in the global securities market; to bring about increased awareness and knowledge across both buy-side and sell-side financial institutions in financial products and be a focal point for firms and practitioners to air views.
Years ago when the UK markets moved from T+5 to T+3 there was plenty of research about the benefits gained in risk reduction. There was doubt about the actual risk benefits because although th...
Any shortening of the settlement cycle is clearly going to tax operations to complete all the tasks necessary to settle only two days after trade date. I remember being head of operations when the mov...
As the world struggles for economic growth there is a weird onus on restructuring the markets and wrapping massive amounts of legislation and regulation around managing risks. It’s a knee jerk reactio...
The world like Premiership footballers, we are told, is getting faster. Speed today appears to be the essential element in providing services and executions. For years the race in front office dealing...
As far as we know, today, the European Markets will be moving to a T+2 settlement cycle by the 4th quarter in 2013. This is a precursor harmonisation, necessary for the implementation of T2S in 20...
I've let the ball drop on blogging for the past few weeks, but have been thinking a lot about the issues. The Post Trade Forum debate on Are Clearing Houses Increasing Risk? will take place on Tuesd...
Way back in 2006 the idea of T2S became a reality. In the years since the creation of the Euro, the European securities markets have continued to lag badly behind the European project to create a sing...
News that NYSE Euronext is planning to build their own Clearing House for derivatives and is very interesting and a possible indictment of the quality of choice of alternative Clearing Houses in the m...
In Europe we are blessed (If that’s the right word) with many Clearing Houses. We are told that this provides competition and drives down prices while producing an environment for innovation. Can anyo...
Yesterday's post looked at the big risks in the CCP landscape from simultaneous requirements for mandatory margin, novated contract terms, complex portfolio and collateral valuations, reference data r...
Clearing Houses are becoming even more important in the markets as regulatory and political change forces OTC into their systems and onto their balance sheets. Who knows if the balance sheets of Clear...
One of the major problems in the stabilisation of securities markets is to find a recognised and standard mechanism to rate the quality of collateral. Clearing Houses have their own methods of assessi...