Two GFT specialists featured in The Trade Derivatives magazine


The Trade Derivatives magazine has featured the views of two GFT specialists in their latest issue which is available both online and in print. Francis Cook (Specialist in Regulatory Compliance, GFT) and Tony Sodhi (Managing Principal, GFT) were cited for their views on trade reporting and OTC clearing respectively, with Francis having a full page feature.

Francis features in an article entitled ‘First-year report cards’ where specialists in trade reporting analyse how the sector has been affected by regulation over the last 12 months. Francis states that “From the outset, a lack of experience in reporting over-the-counter and exchange-traded derivatives along with little guidance from the regulators meant that achieving compliance was – and remains – a real challenge for the buyside.”

With Francis declaring that the market has suffered from this real lack of regulatory guidance, he cites Dodd-Frank and the European Markets Infrastructure Regulation (EMIR), as two examples where there has been significant challenges. Francis also points out that while “some of these challenges have now been overcome, data quality can still be poor.” Francis also alludes to the importance of the upcoming European Securities and Markets Authority (ESMA) consultation on reporting, which is to be completed by February 2015.

Tony is quoted in an article entitled 'Prepare to pay’ in which various specialists from the OTC market discuss the possible trends and challenges in the months to come. Tony comments on the growing preference for OSA’s and also their low fees. Tony says that “Clients looking to engage new clearing brokers, and most will generally appoint two or three, will assess offering according to a range of factors.” However Tony also makes it clear that “different clients will have different needed depending on the complexity of their requirements.”