New Models for Rates Trading

February 22, 2012
Credit Suisse's Ryan Sheftel discusses the development of electronic trading in the rates market, what's driving that effort and what clients are looking for.

SIFMA Urges Changes to Volcker Rule

February 13, 2012
Tim Ryan, president and CEO of SIFMA, explains that the industry's biggest concern with the proposed Volcker rule is where to draw the line between market making and proprietary trading.

The Volcker Rule's Impact on the Corporate Bond Market

February 10, 2012
How will the Volcker impact liquidity in corporate bonds? This panel, moderated by TABB Group's Kevin McPartland, takes a look. From TabbFORUM's fixed income conference.

Electronic Trading in Fixed Income

February 09, 2012
How are buy side and sell side firms adopting to the growth in electronic trading of fixed income products? TABB Group's Kevin McPartland moderates this discussion from TabbFORUM's fixed income conference.

How to Spend the Money, Or Making Capital Allocations

February 06, 2012
Tradeweb's Lee Olesky asks Richie Prager of BlackRock how to make capital allocation decisions in an era of uncertainty. Short answer: it's "incredibly" difficult.

Clearing and CCP: Where Are We?

February 06, 2012
BlackRock's Richie Prager tells Lee Olesky of Tradeweb about the differences in clearing between dealer-to-dealer and dealer-to-customer business and how the D2C market is evolving.

What Keeps You Up At Night?

February 06, 2012
Tradeweb CEO Lee Olesky asks BlackRock's Richie Prager, head of global trading, what market issues are tops. From TabbFORUM's fixed income conference.

Houston, We Have A Problem

February 06, 2012
Richie Prager of BlackRock tells Tradeweb's Lee Olesky what the risk capital situation is like today. From TabbFORUM's fixed income conference.

The Deleveraging of Wall Street

February 06, 2012
BlackRock's Richie Prager talks with Tradeweb's Lee Olesky about the impact of a changing marketplace in which sell side balance sheets are shrinking and there's consolidation on the buy side. From TabbFORUM's fixed income conference.

Olesky and Prager Dig Into Changes in the Fixed Income Market

February 02, 2012
Lee Olesky, CEO of Tradeweb, and Richie Prager, global head of trading at BlackRock, talk about the massive changes taking place in fixed income, from liquidity, to trading to regulation. From TabbFORUM's fixed income conference.

The World Economy Today: USB's Larry Hatheway

February 01, 2012
Larry Hatheway, chief economist and chief strategist at UBS, talks at TabbFORUM's fixed income conference about the current state of the world economy.

Asia Not the HTF Haven People Think

January 04, 2012
Is Asia the HTF haven most people seem to think it is? The answer could suprise, as Stephen Edge, Principal of Asiaetrading.com, discusses the topic here with the FT Trading Room.

Bank of America's Future at Mercy of Courts

January 04, 2012
What is happening in the courtroom may be the biggest determinant of what happens to Bank of America in the stock market, David Reilly reports on Markets Hub. 

CFTC's Tug of War

December 05, 2011
In light of the MF Global scandal and its missing funds, the CFTC wants to make sure customer funds are regulated more closely. But Friday, Wall Street's top trade group filed a lawsuit against the CFTC rules on position limits, with Tim Ryan, SIFMA president & CEO.

US Financial Lobby Says Reform Years Away

November 17, 2011
Kevin McPartland, director of fixed income research at Tabb Group, tells the FT’s Telis Demos about how swap dealers business will change because of Dodd-Frank. Tabb's report says big banks expect profits to decline in their derivatives business and that technological advances will change the way swaps are traded.

US Financial Lobby Says Reform Years Away

November 13, 2011
John Taft, chairman of the Securities Industry and Financial Markets Association, talks regulation with Gillian Tett, the FT's US managing editor, and explains why he believes that we are still three to five years away from the implementation of the Dodd-Frank reforms.
  

Larry Tabb on Swap Execution Facilities

November 09, 2011
Larry Tabb is the founder and CEO of TABB Group, an advisory and research firm focusing on issues surrounding financial markets. His research and publication topics include trading and trade processing systems, market structure, regulatory issues, and technology trends. He is a contributing editor for Wall Street & Technology and Advanced Trading magazines, and is a frequent speaker at major business and industry conferences. John Lothian News Editor-at-Large Doug Ashburn spoke with Tabb about the future of OTC derivatives, capital and margin requirements.
 

CFTC's Gensler on the Role of CFTC

November 07, 2011
CFTC Chairman Gary Gensler at SIFMA in New York. 
 

President Obama's G20 News Conference

November 04, 2011
 

Brokers Dealing With Regulation

November 2, 2011
David Clark, chairman of the Wholesale Markets Brokers' Association explains to Philip Stafford why differences in global regulatory approaches may mean inter-dealer brokers need to adopt differing business models for each jurisdiction.
 

Paul Volcker on Charlie Rose

October 24, 2011
Paul Volcker, Former Chairman, U.S. Federal Reserve on the U.S. Economy

Algorithms Will Defeat Regulators

October 24, 2011
The algorithms which drive high-frequency trading are being demanded by regulators. Larry Tabb, founder and chief executive of Tabb Group, the capital markets consultancy says regulators don't currently have the tools to scrutinise such markets. 

Regulators Must Cooperate to Avoid Data Gaps

September 19, 2011
International regulators and central banks have warned that moves to shore up the vast over-the-counter derivatives market could be undermined by potential data gaps in trade repositories, the information warehouses that store details on trades. Larry Thompson, general counsel of the Depository Trust & Clearing Corporation, tells FT Trading Room's Philip Stafford there needs to be global harmonisation among all regulators.
 

Morgan Stanley Warns on Derivatives Rules

September 15, 2011
Stephen O'Connor, the chairman of the International Swaps and Derivatives Association and a managing director at Morgan Stanley, tells the FT's Michael Mackenzie that Dodd-Frank derivatives rules could impose different regulations across borders, which would impact banks caught in the middle and potentially be bad for liquidity.
 

Open Meeting on Two Proposed Rules under Dodd-Frank (Webcast)

September 10, 2011
The Commodity Futures Trading Commission (CFTC) held a public meeting to consider two proposed rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Commission also discussed and approved an International Organization of Securities Commissions (IOSCO) report: Principles for the Regulation and Supervision of Commodity Derivatives Markets.
 

Is the Buy-Side Ready for Derivatives Reform?

August 19, 2011
Chad Wekelo, principal at Actualize Consulting, talks about how buy-side firms are gearing up for Dodd-Frank. Some have systems in place and are waiting for final rules, others are looking for assistance in getting those systems together.
 

The Down Stream Side of OTC Reform: Consulting Case Study

August 4, 2011
Robert Iati, TABB Group partner, talks about how the OTC reform effort will affect the back office - trade processing, clearing, etc...While there are still lots of unknowns, one thing is sure: a lot of dollars are involved.
 

Buyside's Worries on OTC Derivatives

July 26, 2011
Dodd-Frank in the US and EMIR have been delayed as regulators recognize they need more time. Jane Lowe, Director of Markets at the Investment Management Association, is keen for regulators to take the time to look at two buy-side issues - extra-territoriality - and whether some institutions will be regulated under Dodd-Frank and EMIR, and "portability" of OTC derivatives contracts - another emerging hot issue.
 

Funding Questions noted on Dodd-Frank Anniversary

July 21, 2011
Regulators have missed or pushed-back deadlines on hundreds of rules included in the year-old Dodd-Frank Act reports Megan Hughes in Washington. Funding and scope remains an issue for the financial reform legislation. Hughes appeared on Bloomberg Telelvision's "Fast Forward."
 

Dodd-Frank: Practical Implications & Uncharted Territory

The Battle for Influence Over Dodd-Frank

Gensler Says Rule Will Make Manipulation Easier to Prove

July 7, 2011
Gray Gensler, chairman of the U.S. COmmodity Futures Trading Commission, talks about the agency's adoption of a Dodd-Frank Act rule designed to make it easier to prove fraud and manipulation in markets for derivatives and commodities such as oil and natural gas. He speaks with Lisa Murphy on Bloomberg Television's "Fast Forward."
 

Subcommittee Hearing on Emergence of Swap Execution Facilities:
A Progress Report

Financial Overhaul Will Lead to More Transparency

June 21, 2011
The head of the Commodities Futures Trading Commission, Gary Gensler, says the Dodd-Frank financial overhaul will "democratize" Wall Street by making market exchanges more transparent.

Chairman Gensler discusses financial reform on Business Report

June 15, 2011
Commodity Futures Trading Commission Chairman Gary Gensler talks about the regulations he's putting in place to prevent another financial crisis. This extended interview comes from Nightly Business Report's Tuesday, June 14, 2011 broadcast.

CFTC Public Roundtable on Swap Data Recordkeeping and Reporting Requirements

Derivatives : the Clearing Battle Mounts 

Lofchie Says Dodd-Frank Creates Model of Uncertainty

Derivatives Regulator Faces Funding Challenges

Derivatives View From Washington

June 6, 2011
FIA President John Damgard speaks to Jeremy Grant of the FT on the pending Dodd-Frank deadline. Damgard addresses the potential negative impact of finalizing regulations too soon and the need for regulatory cooperation across the globe.

Regulatory over Reach?

June 1, 2011
Anthony Belchambers, chief executive of the Futures and Options Association, speaks to FT’s Jeremy Grant on regulation and how ‘must haves’ should be interpreted in a more practical way that is easier to implement.

Rules Dichotomy Delays SEFs

Ludwig Says Feds Just Starting Dodd-Frank 'Marathon'

Financial Regulations Law and Derivatives

April 12, 2011
The Senate Banking Committee held a hearing on implementation of rules on the U.S. derivatives market included in the 2010 financial regulations law.
 

Is OTC Derivatives Reform in Jeopardy?

Charlie Sheen Dials the CFTC

March 8, 2011
Charlie Sheen (possibly) has made his comment on Dodd-Frank’s influence on the CFTC which may be struggling to deal with the OTC derivatives now coming under its purvue. Adam Sussman, head of research at Tabb Group, believes the CFTC is already short of the staffing and technology resources needed to cope with these additional responsibilities.
 

Dodd-Frank Requires "Tsunami" of Rules

February 23, 2011
The Deal Professor, Steven M. Davidoff, speaks to Margaret E. Tahyar, a partner at Davis Polk & Wardwell, about what regulatory agencies must do to put the Dodd-Frank Act, which overhauls financial regulation, into effect. How can regulators decide which organizations are actually too big to fail?
 

JPMorgan's Clearing Chief on OTC Rules

January 19, 2011
Dave Olsen, the head of OTC derivatives clearing department at JPMorgan, tells the FT's Aline van Duyn, that new rules being written in Washington will not wreak havoc in the markets but may have unintended consequences, such as international imbalances resulting from derivatives regulation.

Settlement Nearly Settled

January 17, 2011
Tim Howell, chief executive of Euroclear, one of the world's largest settlement services groups, explains his company's view on the paradigm shift in European post-trade, be it the Target-2-Securities (T2S) initiative by the European Central Bank or "Emir" and OTC derivatives and clearing reforms.

Mifid Review Goes Deeper than Realized.

January 13, 2011
Bob Fuller, chair of the IT sub group of the Mifid forum and a director of trading technology group Fixnetix, discusses the MiFID review with the FT’s Phillip Stafford. Fuller believes the review goes much deeper than people realize and the channels for financial services firms to express opinions are limited.

OTC Derivatives Market Reform Update - TABB TV

January 11, 2011
Lee Olesky, CEO of Tradeweb, sits down with Kevin McPartland of TABB Group to discuss newly proposed rules for SEFs and a look ahead for derivatives reform in 2011.

OTC Clearing - Who's Going to Pay?

January 10, 2011
Reforms to the European OTC derivatives markets are nearing the finishing line. Guy Sears, wholesale director at the Investment Management Association, describes to Jeremy Grant the progress that has been made in relation to the buy side's concerns over impending requirements to use OTC Derivatives clearing. Yet the key question remains unanswered, who's going to pay for the changes?

OTC Derivatives Trading Set for Shake-Up

December 21, 2010
The European Commission has placed great emphasis on the Reform of the OTC derivatives market, which constitutes a major part of the EU's review of Mifid. Stephen Fletcher, partner at law firm Linklaters, talks about potentially controversial areas and warns against the possibility of different trading patterns, products and prices caused by the increased costs related to clearing.

SGX Starts OTC Derivatives Clearing in Asia

November 25, 2010
The Singapore Exchange has started central clearing of OTC financial derivatives, with the launch of the first such platform in Asia. Magnus Bocker, CEO of SGX, shares more with Kirby Daley of Newedge Group, CNBC's Maria Bartiromo, Bernard Lo, Martin Soong and Karen Tso.

OTC Derivatives Clearinghouses: Do They Pose A Systemic Risk?

November 24, 2010
TABB Group senior analyst Kevin McPartland talks to editor-at-large Ivy Schmerken about whether OTC Derivatives clearinghouses pose a systemic risk to the financial system.

Derivatives Chief Challenged by Republicans, FT

November 22, 2010
CFTC Chairman Gary Gensler talks to the FT’s Tom Braithwaite on how the CFTC needs more resources to take on all of its regulatory tasks specified under Dodd-Frank reforms. Mr Gensler also outlines his plans to create swap execution facilities and regulate non-financial companies.

Swap Execution Facilities: What Do They Really Mean?, WS&T

 

OTC Derivatives Market Reform Update - TABB TV

November 18, 2009
Draft financial reform legislation is currently circulating in the House and the Senate. Kevin McPartland discusses expected timelines, differences between House and Senate bills and issues with the current approach.

SEF Definition, FT

November 12, 2010
Swap execution facility or SEF, a new form of trading platform, was created as a result of Dodd-Frank legislation. Yet, the definition of SEF still remains unclear.  Richard Repetto, principal of equity research at Sandler O'Neill, discusses with Jeremy Grant the guidelines for SEFs, highlighting the risks and opportunities brought about by a possibly fragmented market.

Regulatory Uncertainty, FT

November 9, 2010
Five months since the passage of the Dodd-Frank Act , great uncertainty still exists around the implementation process of the legislation. Nicolas Breteau, CEO of Newedge, the world's largest futures broker, discusses with Jeremy Grant as to whether exchanges, clearing houses and traders are still in the dark about how this regulation will be carried out, especially with the Republican’s recaptured majority in the House.

Schapiro: We Have to See if Regulators Can Close the Gap, Fox Business

November 8, 2010
SEC Chairman Mary Schapiro discusses the future of 'too big to fail' and the implementation of financial-regulatory reform.

U.S. Mid-terms Could Sway Dodd-Frank Rules, FT

October 22, 2010
Terry Duffy, chairman of CME Group, the US's biggest futures exchange discusses with Jeremy Grant how the US mid-term elections and political development will affect the implementation of Dodd-Frank’s OTC derivatives and clearing legislation.

CME Begins Clearing Interest Rate Swaps, CNBC

October 18, 2009
The CME Group, the world's largest futures market, began clearing interest rate swaps on Monday. Terry Duffy, executive chairman of the CME Group, discusses the new service with CNBC.

Interview with Gary Gensler, CFTC, on regulating the OTC derivatives markets

September 24, 2010
Gary Gensler and the agency he runs, the Commodity Futures Trading Commission, is set to become one of the most powerful financial markets regulators in the world. The Dodd-Frank bill, signed into law in the US in July, gives them the clear mandate to rein in the $615 trillion dollar OTC derivatives markets. This is a market that allows companies and financial institutions to hedge their financial markets risk, but it's been accused of helping cause the financial crisis.

Interview with Gary Gensler, CFTC

September 9, 2010
Commodity Futures Trading Commission Chairman Gary Gensler comments on new trading and transparency rules for over-the-counter derivatives.

CFTC Chairman Gary Gensler's Interview on Bloomberg TV's "Political Capital with Al Hunt."

August 24, 2010
Chairman Gensler talks about financial regulatory overhaul and transparency in the swaps market.

Signing the Wall Street Reform and Consumer Protection Act

July 21, 2010
President Obama signs into law the most sweeping reforms of our financial system since the Great Depression and the strongest consumer protections in history in a ceremony at the Ronald Reagan Building in Washington, DC. July 21, 2010.

OTC Derivative Reform Update - TABB TV

April 14, 2010
Kevin McPartland, Senior Analyst of TABB Group, discusses the soon to be released OTC derivatives reform bill from the Senate Agriculture Committee.

OTC Derivative - The Senate Bill - TABB TV

March 11, 2010
Kevin McPartland, Senior Analyst of TABB Group, discusses what should be expected from the U.S. Senate Legislation around OTC derivatives reform when released on Monday, March 15, 2010.

Michael Greenberger on Over-the-Counter Derivatives
(MMBM - Roosevelt Institute)

March 06, 2010
Michael Greenberger presents his chapter on over-the-counter derivatives from the Make Markets Be Markets report, sponsored by the Roosevelt Institute.