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OCC Comments On Essential Aspects Of CCP Resolution Planning

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On October 17 OCC provided comments to the Financial Stability Board (FSB) on the issue of essential aspects of CCP resolution planning. OCC supports the work being done regarding CCP resiliency and recovery, but reiterated its concern that in providing guidance regarding resolution, the FSB and other policymakers should not prevent a CCP like OCC from fully implementing its recovery plan and should avoid suggesting steps or processes that undermine the CCP recovery process. OCC said that it is very important in planning for CCP resolution that policymakers focus on resolution planning that promotes market certainty while giving resolution authorities and CCPs the flexibility to deal with actual events as they occur. 

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Beecher Carlson Announces Partnership with SecurityScorecard to Bolster Cyber Risk Evaluation and Monitoring

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Beecher Carlson Insurance Services, LLC (“Beecher Carlson”), a specialized large account insurance broker, announced its partnership with SecurityScorecard to improve cyber risk evaluation and monitoring for clients with CyberSelect™, Beecher Carlson’s proprietary manuscript cyber coverage.

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DTCC Appoints Tim Keady To Lead Firm’s DTCC Solutions Businesses

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The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced the appointment of Timothy Keady as Managing Director of DTCC Solutions and Sales & Solution Delivery. Mr. Keady assumes responsibility for leading DTCC’s Solutions businesses of derivatives, collateral, institutional post-trade processing (i.e., Omgeo products), entity data (e.g.,Avox Data Services), and data products, including DTCC’s joint venture companies of Clarient Global LLC., DTCC-Euroclear Global Collateral Ltd., and Soltra.  He retains his current responsibilities as Chief Client Officer for leading the company’s sales, relationship management, and marketing and communications functions.  Mr. Keady succeeds Donna Milrod, who is leaving the firm in November. He will report to Mike Bodson, President & CEO.  

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ERIS Adds Live Points On The Yield Curve - Liquidity Providers Now Stream Firm, Tradable 3Y And 4Y Markets In The Central Limit Order Book In Response To End User Demand

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Eris Exchange (Eris), a U.S.-based futures exchange offering cash-settled swap futures as the leading alternative to traditional OTC swaps, began offering live streaming, tradable markets in 3Y and 4Y Eris Standard U.S. Dollar Interest Rate Swap Futures on August 29.  The launch increased the live points on the yield curve from five to seven, enabling new hedging and spread trading opportunities. The new streaming contracts complement previous live markets in 2Y, 5Y, 7Y, 10Y, and 30Y Eris Standards already streaming in Eris SwapBook.  

3Y and 4Y Swap Futures were listed as contracts on January 11, 2016 along with 12Y, 15Y and 20Y tenors, and swap effective dates for all Standards out to 10 years, but were only available for trading by voice and electronic RFQ. Eris commenced the streaming offering in the 3Y and 4Y Swap Futures to satisfy participant desire for liquidity throughout the trading day in these points on the curve. This expansion provides unprecedented OTC swap-like yield curve granularity to the Eris Swap Futures yield curve. 3Y and 4Y Eris Standards set a combined open interest record of more than 2,100 contracts on October 7.
 
Carl Schmidt, CEO of Hydrus Capital, commented on the trading opportunities available with all day live markets in these two additional tenors, "Streaming 3Y Eris markets provide a liquid swap future in a part of the curve with real commercial hedging needs. Since the maturity of the 4Y Eris contract more closely matches CME Group's U.S. Treasury 5Y Note Future, live streaming markets now facilitate easier spreading."
 
"We are excited to be offering live streaming markets in these 3Y and 4Y Eris contracts, which were first listed at the start of the year," said Geoff Sharp, Global Head of Sales at Eris Exchange. "These developments are further evidence and an endorsement of Eris as an alternative to the OTC interest rate swap market."

Helping Operations Researchers start young

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Now that my son has turned twelve, I am beginning to see among his friends a bifurcation:  some “love” mathematics and some “hate” mathematics.  This is frustrating to me since I know that if the kids see operations research then they will all love it.  What is not to like?  Coloring maps, finding paths, scheduling sports leagues…. who could ask for more?  But if they hate mathematics now, it will be very hard to get them into operations research in the future.

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SIX Interbank Clearing: QR Code To Replace The Currently Used Inpayment Slips

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The Board of Directors of SIX Interbank Clearing Ltd has decided to revise the inpayment slip with data code planned for mid-2018. In order to take account of the progressing digitalization, market needs and upcoming regulatory requirements, the data content of the planned QR code is being expanded. This should ensure its long-term operational sustainability.

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ETFGI Reports Assets Invested In ETFs/ETPs Listed Globally Reached A New Record High Of 3.408 Trillion US Dollars At The End Of Q3 2016

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ETFGI, the leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, today reported assets invested in ETFs/ETPs listed globally reached a new record high US$3.408 trillion at the end of Q3 2016. Net flows gathered by ETFs/ETPs in September were strong with US$25.19 Bn of net new assets gathered during the month marking the 32nd consecutive month of net inflows, according to preliminary data from ETFGI’s September 2016 global ETF and ETP industry insights report (click here to view the ETFGI global asset growth chart).

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19Oct/Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) - second batch, consultative report issued by CPMI-IOSCO

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Press release about CPMI and IOSCO issuing consultative report on "Harmonisation of key OTC derivatives data elements (other than UTI and UPI) - second batch", 19 October 2016

19Oct/Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) - second batch, consultative report

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G20 Leaders agreed in 2009 that all over-the-counter (OTC) derivatives contracts should be reported to trade repositories (TRs) as part of their commitment to reforming OTC derivatives markets with the aim of improving transparency, mitigating systemic risk and preventing market abuse. Aggregation of the data reported across TRs will help ensure that authorities can obtain a comprehensive view of the OTC derivatives market and its activity. Following the 2014 FSB Feasibility study on approaches to aggregate OTC derivatives data, the FSB asked the CPMI and IOSCO to ...

HKEX: Trading Continues During Black Rainstorm Warning

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Hong Kong Exchanges and Clearing Limited (HKEX) announced that the Black Rainstorm Warning has not affected trading in the securities and derivatives markets, which continue to operate as normal.  According to the rules, trading will continue until the end of today’s last trading session.

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Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) – second batch: Consultative report issued by CPMI-IOSCO

Dubai International Financial Centre Hosts The Second IMF Regional Economic Outlook For 2016

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Dubai International Financial Centre (DIFC), the region’s leading financial hub, connecting business and financial institutions with emerging market opportunities across the Middle, East, Africa and South Asia (MEASA) region, today hosted the launch of the second Regional Economic Outlook (REO) for the Middle East, North Africa and Pakistan (MENAP) for 2016, in collaboration with the International Monetary Fund (IMF).

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HKEX: Stock Exchange Participants' Market Share Report

The European Association Of CCP Clearing Houses (EACH) Responds To The CPMI-IOSCO Consultative Report On CCP Resilience And Recovery

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The EACH response to the consultative report on Resilience and Recovery of CCP is published today. EACH welcomes that CPMI-IOSCO has undertaken to provide clarification in order to ensure a consistent application of the Principles for Financial Market Infrastructures (PFMIs) across jurisdictions. Below you can find some of the key points included in our response:

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Harmonisation Of Critical OTC Derivatives Data Elements (Other Than UTI And UPI) – Second Batch - Consultative Report Issued By CPMI-IOSCO


eClerx And FIA Tech Announce Strategic Partnership - Agreement Combines The Advantages Of eClerx’s Scale, Cost-Competitiveness And Derivatives Processing Expertise With FIA Tech’s Centralized Technology Platforms For The Global Futures Industry

Tokyo Stock Exchange To Begin Calculating Tokyo Stock Exchange REIT Net Total Return US Dollar Hedged Index

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The Tokyo Stock Exchange has been calculating and publishing the Tokyo Stock Exchange REIT Net Total Return Index and will begin calculating the Tokyo Stock Exchange REIT Net Total Return US Dollar Hedged Index on October 19.

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Osaka Exchange: Handling Of TSE REIT Index Futures Contracts In Connection With Transition To Free-Float Weighting

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Today, Tokyo Stock Exchange, Inc. (TSE) started gathering public comments concerning the transition in calculation methodology from “full-market capitalization weighting” to “free-float adjusted market capitalization weighting” (hereafter “free-float weighting”) for TSE REIT-related Indices.

Public Comments

If the transition is implemented as originally proposed, the underlying index of TSE REIT Index futures listed on Osaka Exchange, Inc. (OSE) will also transit to free-float weighting from the end of Jan. 2017. In addition, special quotations for final settlement prices will be calculated based on free-float shares.

Please note that the transition is due to be implemented for Mar. and Jun. 2017 contracts currently available and for Sep. and Dec. 2017 contracts set from here on forward during each respective trading period.

Update On SGX’s Proposed Acquisition Of The Baltic Exchange

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Singapore Exchange (“SGX”) today announced that a Court hearing has been fixed for 7 November 2016 to sanction the proposed scheme of arrangement under Part 26 of the UK Companies Act (“Scheme”) for the acquisition of The Baltic Exchange Limited (“Baltic Exchange”).

This follows approval by the Financial Conduct Authority on 13 October 2016 of the proposed change of control of Baltic Exchange Derivatives Trading Limited, the regulated entity of the Baltic Exchange. The transaction is expected to be completed by end-November 2016.

Japan's Financial Services Agency: Comments For The Insurance Capital Standard (ICS) Second Public Consultation

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The FSA submitted comments to the Insurance Association of Insurance Supervisors (IAIS) regarding the ICS Second Public Consultation.

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