​ATP, PFA tool up ahead of derivatives margin rules deadlines

first_img“Margin analytics is becoming more and more important for our business and OpenGamma provides the necessary tools for us to do these analytics,” he said.The margin software vendor said this was a “pivotal time” for the derivatives industry with voluntary OTC clearing on the increase, in anticipation of the funding challenges that non-centrally cleared derivatives margin requirements would present over the next 22 months.There had been a trend recently, it said, for buy-side derivatives users to proactively establish funding, liquidity and optimisation capabilities across their cleared and uncleared derivatives portfolios.Joe Midmore, chief commercial officer of OpenGamma, said: “These are transformational times for buy-side participants trading OTC derivatives and our recent traction in the Nordic market reflects the growing need for innovative margin analytics that meet the needs of large, sophisticated pension schemes and other asset owners.” Denmark’s two largest pension funds have decided to buy in cleared and uncleared derivatives analytical services from the same software vendor, as they prepare for incoming regulations on the capital derivatives users must hold.Labour-market supplementary fund ATP and PFA – the country’s biggest commercial pension provider – have both appointed the firm OpenGamma to provide the analytics ahead of the final implementation phases in 2020 and 2021 of the bilateral margin rules from the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO).Lars Dreier, senior portfolio manager at ATP, said: “This new solution provides us with the ability to proactively manage our derivatives book as efficiently as possible.’’Meanwhile, Thomas Kolling, senior portfolio manager at PFA, described the service as “a natural add-on” to the partnership the pension fund had had with the firm on cleared derivatives for almost two years.last_img read more

Italians check in ahead of Davis Cup qualifiers

first_imgKolkata: World number 18 Marco Cecchinato along with other Italian Davis Cup team members arrived here this morning ahead of their qualifiers against hosts India at the South Club, scheduled to be held from February 1-2.The team will be led by non-playing captain Corrado Barazzutti.Italy will miss the services of top-ranked Fabio Fognini, who has ruled himself out to recover from an injury.Cecchinato, who stunned Novak Djokovic in the 2018 French Open quarterfinals and made a first round exit at the Australian Open against Serbia’s Filip Krajinovic, is expected to hurt India most on the opening day of the tie.World number 35 Andreas Seppi will be the next best bet for the Italians. The other members of the contingent include Matteo Berrettini, Thomas Fabbiano and Simone Bolelli.A total of 24 teams will play in the knockout qualifiers on February 1, 2 to decide which 12 teams playing here will play the year-end finals.Twelve winners from the qualifiers here will join six other teams for the 18-team finals in Madrid in November this year.According to the new format, only four semi-finalists from the 2018 season along with two wild cards — Argentina and Britain – have a direct entry. IANSAlso Read: Sports Newslast_img read more

Justice, Matua forgo senior years

first_imgJustice will make a formal announcement at USC on Monday, but sent in the paperwork to the NFL on Friday, according to his father, Gary Justice. Winston Justice told USC coach Pete Carroll and offensive line coach Pat Ruel on Friday he submitted the paperwork and intended to turn pro. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGift Box shows no rust in San Antonio Stakes win at Santa AnitaMatua made his announcement at a church in Carson in front of about 100 people, including USC offensive linemen Sam Baker and Ryan Kalil. Toms sets record, ties with Campbell HONOLULU – David Toms felt a gentle breeze on his face when he stepped to the first tee Saturday in the Sony Open. Compared with his first two weeks in Hawaii, it must have felt like playing golf in a dome. In calmer conditions along the shores of the Pacific Ocean, Toms set a course record at Waialae Country Club with a 9-under 61 that turned the Sony Open into a two-man race with the equally hot Chad Campbell. Campbell played even better from tee-to-green, with 11 birdie chances inside 15 feet. He converted eight of them for a 62 and was tied with Toms at 14-under 196, seven clear of anyone else. His 61 broke by one shot the record at Waialae since it was changed to a par 70 in 1999. It was last set by Ernie Els a year ago in the final round. The course record still belongs to Davis Love III, who shot 12-under 60 in 1994. LeBron commits to play for U.S. PHOENIX – LeBron James has committed to playing for the U.S. team at this year’s world championships and the 2008 Olympics. Managing director of USA basketball Jerry Colangelo met with James before the Cleveland Cavaliers played the Phoenix Suns, but thought the 21-year-old Cavs’ star already had committed in a meeting in Chicago on Dec. 22. However, James was quoted as saying he still had to talk to Colangelo before making any commitment. Levy not going to coach Bills ORCHARD PARK, N.Y. – Buffalo Bills general manager Marv Levy clarified Saturday that he’s not a candidate for the vacant coaching job. Jim Haslett and the team have had preliminary contact about the post. The clarification comes a day after the 80-year-old Hall of Fame coach repeatedly declined to rule himself out as a candidate to take over as coach following Mike Mularkey’s resignation. Haslett’s agent, Peter Schaffer, told The Associated Press on Saturday that his client has had contact with the Bills. Schaffer declined to say who made the initial call, but added that no interview has yet been scheduled. Wilson agrees to deal with Pirates PITTSBURGH – Outfielder-first baseman Craig Wilson chose not to go to salary arbitration and agreed to a $3.3 million, one-year contract with the Pittsburgh Pirates on Saturday. The 29-year-old Wilson made $3 million last season, when he missed 103 games because of two left hand injuries. He hit .264 with five homers and 22 RBIs. He had a team-leading 29 homers in 2004. From staff and wire reports 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!center_img USC lost two starting offensive linemen Saturday as tackle Winston Justice submitted paperwork to the NFL stating his intention to turn pro and guard Fred Matua said he also would leave early. Safety Darnell Bing is expected to announce today that he will turn pro, the final day for underclassmen to inform the NFL of their intentions. last_img read more