Forex Magnates London Bureau were present at 'Trade Tech's', Post Trade, 3 day event last week where industry professionals were discussing the impacts of the new EMIR regulations for OTC derivatives. The credit crisis was blamed on extravagant trading in the OTC markets, where entities were trading with each other in high risk products like CDS's (Credit Default Swaps) without any formal or standard procedures.
After reviewing the 2008 incidents, US law makers had set out new guidelines (Dodd Frank) in the way they regulate and manage OTC products. Spot FX ( in USA) has already been hit as leverage and FIFO rules were implemented, thus impacting the US FX industry.
Trade Tech's Post trade event had distinguished guests from both the buy-and sell side firms all keen to get pointers on what the new regulations may entail.
OTC FX
Across the atlantic the new rules (Dodd Frank), are expected to be implemented in October. The new rulings state that FX swaps and forwards will be exempt from the new regulations however clearing and reporting of non-deliverable forwards (NDFs) and currency options will be subject to the new rules.
Practitioners in Europe have concerns that Esma may exempt NDFs from the clearing process, institutions have already implemented new procedures and spent on infrastructure to be in line with the projected rules on NDF's.
With Spot FX traded off-exchange are the new rules hinting to more LMAX type venues that offer exchange traded derivatives?
Derivatives in General
Day 3 of the event was solely focused on OTC derivatives. From a pricing and Liquidity point of view; buy-side panelists were stating that the new regulations wont impact firms in isolation, fund managers have many modules including reporting of intraday risks and exposure, back office tools and middle ware etc, there are 5 to 6 service providers who all need to react to the regulations, this means that costs need to be aligned across the cycle.
Many questions were raised over the three days and a whole panel discussion was looking at how the service providers have equipped themselves in dealing with the roll out of the new rulings.
Jacqueline Walsh, Group Derivatives Operational Officer, F & C Asset Management said "technology vendors who are waiting till the last-minute may have the competitive edge as they will be prone to change and their system should be flexible enough to adapt to the legislation".
The event was deemed a success as during the 3 days over 250 delegates attended. Exhibitors at the event included DTCC, MarkitServ, Eurex, Sungard and other solution providers.
Overall, it seems that market participants welcome the new regulations however with trading conditions getting tougher by the minute, will the new rulings be a hindrance to finding alpha in these volatile markets?
Trade Tech organises industry specific events across the worlds financial centres, the all important FX event is taking place next week where buy-side members will address the most important topics affecting the FX markets. The QE3 measures have already impacted the markets as Gold is still in a rally and the dollar has weakened against major currencies.
Forex Magnates London Bureau were present at 'Trade Tech's', Post Trade, 3 day event last week where industry professionals were discussing the impacts of the new EMIR regulations for OTC derivatives. The credit crisis was blamed on extravagant trading in the OTC markets, where entities were trading with each other in high risk products like CDS's (Credit Default Swaps) without any formal or standard procedures.
After reviewing the 2008 incidents, US law makers had set out new guidelines (Dodd Frank) in the way they regulate and manage OTC products. Spot FX ( in USA) has already been hit as leverage and FIFO rules were implemented, thus impacting the US FX industry.
Trade Tech's Post trade event had distinguished guests from both the buy-and sell side firms all keen to get pointers on what the new regulations may entail.
OTC FX
Across the atlantic the new rules (Dodd Frank), are expected to be implemented in October. The new rulings state that FX swaps and forwards will be exempt from the new regulations however clearing and reporting of non-deliverable forwards (NDFs) and currency options will be subject to the new rules.
Practitioners in Europe have concerns that Esma may exempt NDFs from the clearing process, institutions have already implemented new procedures and spent on infrastructure to be in line with the projected rules on NDF's.
With Spot FX traded off-exchange are the new rules hinting to more LMAX type venues that offer exchange traded derivatives?
Derivatives in General
Day 3 of the event was solely focused on OTC derivatives. From a pricing and Liquidity point of view; buy-side panelists were stating that the new regulations wont impact firms in isolation, fund managers have many modules including reporting of intraday risks and exposure, back office tools and middle ware etc, there are 5 to 6 service providers who all need to react to the regulations, this means that costs need to be aligned across the cycle.
Many questions were raised over the three days and a whole panel discussion was looking at how the service providers have equipped themselves in dealing with the roll out of the new rulings.
Jacqueline Walsh, Group Derivatives Operational Officer, F & C Asset Management said "technology vendors who are waiting till the last-minute may have the competitive edge as they will be prone to change and their system should be flexible enough to adapt to the legislation".
The event was deemed a success as during the 3 days over 250 delegates attended. Exhibitors at the event included DTCC, MarkitServ, Eurex, Sungard and other solution providers.
Overall, it seems that market participants welcome the new regulations however with trading conditions getting tougher by the minute, will the new rulings be a hindrance to finding alpha in these volatile markets?
Trade Tech organises industry specific events across the worlds financial centres, the all important FX event is taking place next week where buy-side members will address the most important topics affecting the FX markets. The QE3 measures have already impacted the markets as Gold is still in a rally and the dollar has weakened against major currencies.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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