Blog

Climbing the Mountain and Levelling the Playing Field – a dichotomy solved?

[fa icon="calendar'] 25-Sep-2020 08:00:00 / by David Woolcock posted in Banking, Regulation, Treasury Management, Treasury, FCA, FX payments, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, PRA, UK, cross-border payments, cross-border

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For some time in the UK the regulators and authorities have tried to introduce true competition to the traditional banks. Much debate has occurred as to the rights and wrongs of allowing a new grouping of Challengers, Neos and FinTech enter the banking market with a lighter regulatory touch to the incumbents.

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Do you know your SOFR from your SARON? The new benchmarks

[fa icon="calendar'] 15-Sep-2020 15:38:29 / by Matt Townsend posted in Banking, Regulation, Treasury Management, Treasury, FX payments, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, UK, cross-border payments, cross-border

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Given the longstanding focus on the familiar, well-used trading benchmarks and indices currently in use but due to be retired or changed, it’s quite normal to feel that you don't know your SARON from your STR! 

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The new Lego - building blocks of the new cross-border payment roadmap

[fa icon="calendar'] 20-Aug-2020 15:37:38 / by David Woolcock posted in Banking, Regulation, Treasury Management, Treasury, Payments, FCA, FX payments, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, UK, cross-border payments, cross-border

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I have been catching up on some light reading in the glorious English sunshine.  One report in particular caught my eye; the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures released a paper in July

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Uncleared Margin Rules – more regulatory requirements are on the horizon!

[fa icon="calendar'] 27-Jul-2020 08:18:54 / by David Woolcock posted in Banking, Regulation, Treasury Management, Treasury, FCA, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, fx swaps, UK, EMIR

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The regulation for Uncleared Margin Rules (UMR) was set in motion at the 2009 G20 meeting following the global financial crisis.

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Back aboard LIBOR Reform – full steam ahead in the UK.

[fa icon="calendar'] 20-Jul-2020 11:16:02 / by David Woolcock posted in Banking, Regulation, Treasury Management, Treasury, FCA, regulatory reporter, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, UK

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A triumvirate of the Working Group on Risk-Free Reference Rates (RFRWG), the FCA and the Bank of England published joint statements in March and April (see my previous blog  LIBOR Wars) reiterating that firms must move away from referencing LIBOR and reduce the stock of legacy LIBOR contracts.

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Drifting back to a bright new future?

[fa icon="calendar'] 19-Jun-2020 10:20:07 / by David Woolcock posted in Banking, Regulation, Treasury Management, Treasury, sales, regulatory reporter, Sales Desk, SFTR, Treasury Trading Solutions, Banking Regulation, treasury trading, COVID19, RegTech

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The effect of the pandemic has been a mixed bag for many involved in our markets. The increase in volatility has seen a boost to trading activities and RegTech has been busy innovating to help overcome the compliance issues of remote working. With banks splitting personnel between the office, disaster recovery sites and working from home, issues have arisen that will spur technological development and system renewals.

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Business Continuity from Test to Implementation - What will be the takeaways?

[fa icon="calendar'] 26-Mar-2020 19:41:46 / by David Woolcock posted in Banking, Global Code, FCA, Banking Regulation, COVID19, coronavirus, SMCR

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We have seen many crises in the past, but this one is in many ways unique and I cannot recall a similar set of circumstances in my 43 years in markets. Financial crises have been global before but have originated within the financial system. Natural disasters have been localised as has dislocation due to terrorism and wars. This pandemic is unique as it is the first time we have seen such dislocation in so many countries at the same time. All financial centres are going through unprecedented emergency implementation of disaster planning activation.

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Home Alone

[fa icon="calendar'] 20-Mar-2020 16:50:47 / by David Woolcock posted in Banking, FCA, SFTR, LIBOR, Banking Regulation, ESMA, COVID19, coronavirus

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It is unprecedented in Financial Markets (at least in my memory!) to have so many people working from home globally. We have previously seen localised examples such as on Wall Street after the tragic event of 9/11, but nothing on this global scale. As firms dust off the business continuity plans, some are hitting problems such as systems not allowing remote trading. This requires a tweaking of rule books and system settings. For those deploying a unified, modular platform, the task is somewhat easier when suddenly so many core staff are working from home as any system changes can be made once, and once only. 

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Three ways to keep in contact throughout self-isolation and social distancing

[fa icon="calendar'] 19-Mar-2020 10:05:50 / by Kathryn Ellis posted in Insurance, Banking, risk, Risk Management, Self-care, Self-isolation, Social-distancing, COVID19, coronavirus

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We are living in an unknown world at the moment. 

Unknown for our day-to-day working life, unknown for our health, for our relatives , for our holidays and for our immediate future. 

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