In the aftermath of the financial crisis, rigging scandals and sanctions, the days of LIBOR, the London Interbank Offered Rate, are numbered. As the predominant interest rate benchmark for USD, GBP, CHF and JPY derivatives contracts, underpinning more than $370 trillion of instruments, replacing LIBOR will fundamentally change the financial services industry. In this white paper, we share what businesses should expect to come next, and how they can prepare for the transition.
POST TRADE OPTIMISATION: A NEW ERA IS EMERGING
The era of large-scale regulatory programmes such as MiFID2, EMIR and Dodd-Frank is starting to cool off. The current regulatory agenda is becoming more focused on specific areas, such as collateral management, settlement discipline, and an increased scope on regulatory reporting. It is time to take a more holistic focus on post trade optimisation and define and execute a strategy across all functions.
22 March 2019
THE NEW WORLD OF IBOR ALTERNATIVES RATES
According to the Prudential Regulation Authority’s (PRA) and Financial Conduct Authority’s (FCA) ‘Dear CEO’ letter the time to establish and implement an execution plan to transition away from interbank lending rate (IBOR) products is now!