CFTC Designates NFA as SDR Data Recipient
The CFTC issued an order authorizing the National Futures Association (NFA) as “a designee to receive access to data maintained by swap data repositories (SDR),” officials say. The NFA is touted by the CFTC as the “only registered futures association (RFA)” actually registered with the commodities regulator.
“As a condition to the order, access and use is limited to SDR data that will facilitate NFA’s performance of functions delegated to it by the CFTC and other duties that NFA performs as an RFA,” officials say.
“NFA is required to keep all non-public information received through access to SDR data confidential and to refer any request for such data to the CFTC for handling,” according to the CFTC.
AQMetrics Launches Link to DTCC’s GTR
AQMetrics, an integrated risk and compliance software for the investment management industry, announced that it has a new connection to the DTCC’s Global Trade Repository (DTCC GTR), trade reporting service for Europe.
“AQM’s working relationship with DTCC’s GTR will help bring efficiencies to mutual clients with reporting obligations under European Market Infrastructure Regulation (EMIR) and in the future, Markets in Financial Instruments Regulation (MiFIR)” said Geraldine Gibson, CEO of AQMetrics, in a statement.
AQMetrics offers turnkey pre- and post-trade monitoring for Reg NMS, OATS and OTS reporting, UCITS Rules Monitoring, AIFMD Risk Management and Annex IV Reporting, AML/KYC and UBO monitoring, EMIR Reporting and OPERA Reports.
SS&C Debuts ‘Straight Through Margining’ Service
SS&C Technologies, a vendor of financial services software and services, has release “a straight-through-margining service model for collateral management,” officials say.
The service, Over the Counter Collateral Optimized (OTCCO), “will help investment managers simplify preparations for margining of non-cleared OTC derivatives,” officials add.
The global requirements created by the International Organization of Securities Commissions (IOSCO) and the Basel Committee on Banking Supervision (BCBS) will have significant impact on investment operations and “the new obligations demand improved capital adequacy, the implementation of stiff margin requirements, and improvements in the use and optimization of collateral,” according to vendor officials.
“The road to regulatory compliance for the margining of non-cleared OTC derivatives will be disruptive to the investment management industry. Within the disruption lies opportunity, and that is why we are encouraging our customers to engage our collateral management service, OTCCO,” said Tom Kirkpatrick, managing director and European chief operating officer, SS&C GlobeOp, in a statement.
The OTCCO service integrates middle office processes such as independent valuation and real-time collateralized portfolio reconciliation, with collateral management systems to provide accuracy in the calculation of collateral requirements, vendor officials say.
“Collateral margin communications with counterparties are managed via a margin confirmation community, to obtain real-time confirmation of margin movements,” officials say. “SS&C has also connected its wire processing technology to include settlement instructions to the custodian or prime broker.”