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Home » Regulation » OTC Derivatives: Bilateral Markets & Central Clearing, Simon Jones goes to Morgan, Stephen O’Connor goes to ISDA

OTC Derivatives: Bilateral Markets & Central Clearing, Simon Jones goes to Morgan, Stephen O’Connor goes to ISDA


David Murphy, Palgrave, OTC Derivatives, Bilateral Trading and Central Clearing, here. The author is the guy who runs Deus Ex Macchiato and Rivast Consulting. Interesting he lists a 1990 CS Theory PhD concurrency theory? yup Time, Causality, and Concurrency. internet, yeah.

The OTC derivative market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposed for many transactions. OTC Derivatives explains the new rules and the new models. It discusses the traditional bilateral market, then sets out how this will change due to central clearing and the new ways in which OTC derivatives will be traded. The risks of OTC derivatives clearing houses are discussed in detail, as are the protections that CCPs have against these risks. We also look at alternatives to some of the policy decisions, showing the balance between different costs and benefits of various approaches to derivatives market stability. The book is both a detailed primer on OTC derivatives clearing and a powerful insight into post-crisis financial regulation.

Robert Mackenzie Smith, fxweek, Citi Appoints new head of e-FX trading, here. These folks all work for Anil Prasad. Bindler used to have the exotic options book but I think that wound down. On electronic trading side assume Fergal Walsh is still there but I see Pillitteri is at MS with Simon Jones as well. Lots of movement.

Bibbey will relocate from Sydney to London for the role, and will be responsible for the bank’s Autotrader platform, electronic pricing and algorithmic execution. He will report to Feig in relation to G-10 currencies, and for emerging market currencies will report to James Bindler, global head of FX options and head of FX for central and eastern Europe, the Middle East and Africa in London; José Luis Yepez, head trader for emerging markets in New York; and Daniel Aitchison, a regional trading head based in Singapore.

ISDA, Stephen O’Connor New Chairman of ISDA, April 2011, here.


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