Specialist Subject Groups

The Risk Subject Group is focused upon:

• Counterparty Risk- default management
• CCP default Risk
• Collateral Risk
• Operational Risk (Société Générale, UBS, JPMorgan)
• Market Risk (Eurozone)
• Enterprise Risk Management versus the silo approach
• Senior management engagement in risk management

The Group has nominated Paul Young, Associate Director for Business Risk Services at Grant Thornton as its Chair

The Regulation Subject Group is focused upon:

• Understanding new regulation, the impacts and cross-border inconsistencies
• Basel III and the treatment of collateral
• The European Markets Infrastructure Regulation (EMIR) and how it impacts both Over-the-Counter (OTC) Central Counterparty (CCP) clearing and Central Securities Depositories (CSD) regulation
• The Markets in Financial Instruments Directive revision (MiFID II) and its impact on internal infrastructures and the market at large
• The Financial Services Authority (FSA) break-up and how the new Bank of England regulator will change the City
• Dodd-Frank’s impact upon OTC derivatives CCP clearing
• Trade Repositories

The Group has Kiri Self of the Realisation Group as Acting Chair, and is open to nomination for this position.

The Standards Subject Group is focused upon:

• Legal Entity Identifiers (LEI’s) and the Financial Stability Board (FSB)
• CCP clearing
• The Foreign Account Tax Compliance Act (FATCA) and payment standards
• The move to T2S- Will this aid or hinder global standards?
• Unique identifiers in trade messaging
• CCP’s & the use (or not) of existing standards
• Retail banking implications as a result of FATCA developments
• TARGET2 for Securities (T2S) & post-trade compression

The Group has Darren Pearson of the Realisation Group as Acting Chair and is open for nomination for this position.

The Market Infrastructure Subject Group is focused upon:

• The impact to margin processes and valuation-risk of CCP’s
• The practical realities of clearing interoperability between differing clearing models
• Further entrants into the CCP space
• The impact of T2S in 2015 to post-trade functions
• The various aspects of the impact of trade repositories

The Group has nominated Kathleen Tyson-Quah of Granularity Ltd as its Chair