Implementing the vision of financial reform

Larry Thompson, Managing Director and General Counsel

There are three distinct phases of leadership when attempting to implement change: vision, structure and implementation. This same process can be applied to congressional leadership regarding U.S. financial reform.

This article was posted on The Hill's Congress Blog on May 16, 2013.

New infrastructures for a sounder financial system

Michael Bodson, Chief Executive Officer

Dramatic improvements in information and communication technologies are the main factor behind the tremendous expansion of securities and derivatives markets since the 1980s, which has made financial intermediation more of a trade‑based rather than a relationship‑based activity.

This article was published in the April 2013 edition of the “Financial Stability Review."

The spectre of a liquidity crisis looms over OTC derivatives reform

Peter J. Axilrod, Managing Director

As recent financial shocks have demonstrated, funding issues can often transform market stress into full-blown crises.

This article was published in the April 2013 edition of “The Eurofi High Level Seminar."

New standards must ensure global consistency

Michael Bodson, Chief Executive Officer

With new financial supervisory regimes coming online across the globe, it is essential that there is regulatory consistency and coordination across jurisdictions if greater market efficiency and stability is to be achieved.

This article was published in the April 2013 edition of “The Eurofi High Level Seminar."

The many sides of trade repositories

Michael Bodson, Chief Executive Officer

The over-the-counter (OTC) derivatives markets are undergoing an unprecedented regulatory overhaul that is dramatically changing the landscape of financial services. New regulations, along with the ongoing global economic slowdown and the need for firms to make significant investments to strengthen their risk management, have put extreme pressure on balance sheets across the industry.

This article was published in the 2013 edition of “How to Run A Bank,” an annual thought leadership publication by The Banker that serves as a reference guide for senior-level executives in financial services.

The Legal Entity Identifier: what it is, when it’s due, and what it means

Mark Davies, Vice President, DTCC
It is really a simple concept but it meets a number of needs – assign every legal entity engaged in financial transactions a unique identifier and immediately firms will be able to more efficiently track counterparties to trades, streamline processing capabilities and improve risk management.

This article was published in SimCorp's Journal of Applied IT and Investment Management, January 2013, available at www.simcorp.com/journal.

Trade repositories key to understanding exposures and flagging hazardous market activities

Michael Bodson, Chief Executive Officer
Since the 2008 crisis, efforts to enhance global market transparency have seen trade repositories become an essential tool to help regulators more effectively manage systemic risk and rebuild public trust.

This article was published in the The Asian Banker on December 03, 2012

The unintended consequences of new regulations

Peter Axilrod, Managing Director
While global regulatory initiatives were designed to bring greater stability to the financial system, certain provisions have the potential to create unintended consequences – including a global liquidity crunch.

This article was published on the The Eurofi Financial Forum on September 27-28, 2012

Harmonization: key to market transparency

Larry Thompson, Managing Director and General Counsel
As mandatory reporting of over-thecounter(OTC) derivatives trades take effect around the world, trade repositories are emerging as one of the main pillars of systemic risk management. The industry has made significant progress since 2008, when it became apparent that innovation in financial markets had progressed at a much faster pace than the supervisory framework and the underlying market structure.

With the right tools, Dodd-Frank can work – By Larry Thompson – Roll Call – October 2, 2012

This article was published on the The Eurofi Financial Forum on September 27-28, 2012

OTC rules need regulatory harmony

Larry Thompson, Managing Director and General Counsel
When the G20 members met in 2009 to design the post-crisis regulatory framework, they set an ambitious but necessary goal – to improve the integrity and efficiency of the financial system by enhancing transparency in the over-the-counter (OTC) derivatives markets. With less than four months to go until the G20 deadline, legal certainty on many rules can best be achieved through a policy of equivalence and mutual recognition.

This article was published on the Financial Time's Trading Room on August 30, 2012