compliance

Ensuring compliance with execution and clearing mandates across front and back office systems is never easy. Cassini’s tools ensure an integrated and seamless approach to meeting these requirements.

Compliance challenges and related services

EXECUTION ROUTING

Since the Global Financial Crisis the US and EU have created regulations which require certain trades to be executed on electronic platforms.

In the US trades may execute on a SEF and in the EU on an MTF or OTF. Observing these rules is essential to avoid a breach of regulations.

  • How do these rules get applied in the front office?
  • Are traders expected to implement the rules themselves?
  • Do your systems provide guidance to avoid mistakes?
MANDATORY CLEARING

Reducing systemic risk is a goal for regulators. Their tools include mandatory clearing for eligible OTC products and bilateral margin (or UMR) for uncleared OTC portfolios.

Does your firm:

  • Know which products must be cleared?
  • Integrate this into their pre - trade execution workflow?
  • Ensure compliance within the front office?

    UNCLEARED MARGIN REGULATIONS

    In September 2019 and 2020 phases 4 and 5 of UMR will take place. Firms above the average notional thresholds must apply initial margin to their uncleared portfolios.

    Even if firms are above the notional threshold a specific portfolio may be beneath the $50m IM threshold and consider a lower impact compliance approach.

    • Does your firm have access to an officially licenses ISDA SIMM calculator?
    • Can your firm monitor IM in real -time and on - demand during the trading day?
    • Can your firm monitor IM consumption against limits with CCPs, brokers and counterparties?

     

    TO COMPLY WITH REGULATORY EXECUTION RULES CONSIDER THESE SERVICES

    trade Obligation Rules

    TO COMPLY WITH MANDATORY CLEARING RULES CONSIDER THESE SERVICES

    trade Obligation Rules

    TO ACHIEVE UMR COMPLIANCE EFFICIENTLY CONSIDER THESE SERVICES

    Margin Estimation (including SIMM) limit checking SIMM ON DEMAND

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