[ C O N T E N T S ]
MARKET
REVIEW
misSIon impossible
MiFID II’s systematic internaliser regime
has been forced into the spotlight as
market participants stand in fear its
impact, we unravel the confusion.
50
OUTSIDE
VIEW
IDBs seek new identity 54
Big bang for variation
margins 58
Buy-siders weather VM
storm by managing
in-house 63
Too big to ignore? 76
The squeeze on traditional voice broking
means the sector is having to carve
out a new identity to survive. Sarfraz
Thind asks whether this will mean
IDBs opening up to the buy-side.
82
We need to talk about
management fees
The UK regulator has criticised fee
structures for active managers, but
it could have effects right across the
supply chain, says Charles Gubert.
New requirements for the posting of
variation margin on OTC derivatives
came into effect on 1 March, but a lack of
consistency between regulators on key issues
has made implementation challenging.
At what point does an asset manager
become a systemically important
financial institution? A regulatory
designation that carries with it enhanced
reporting, liquidity and risk management
oversight, stress testing obligations and
balance sheet capital requirements.
Issue 51
TheTradeNews.com
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