Update on the Swiss regulation FinSA (FIDLEG)
Sep 25, 2020
EffCom AG merges with the LPA Group
About one year after the acquisition, the specialist for process automation, document management and securities solutions EffCom AG is being completely transferred as brand and legal entity to Lucht Probst Associates GmbH.
Sep 8, 2020
LPA adds RegTech market leader Acarda to group
+++ Acarda, the specialist for integrated, regulatory and automated data management and reporting solutions will in future be operating under the umbrella of the LPA Group +++ This acquisition takes LPA into the growth segment of asset management and marks another milestone on its journey of international expansion +++ The acquisition broadens the LPA proposition combining innovative CapTech and RegTech automation solutions for financial sector organizations worldwide Frankfurt/Main, (08.09.2020)
Aug 27, 2020
CSA Management: One of the most underrated aspects of the IBOR transition?
The IBOR transition brings many changes to the capital markets sector. One of the critical challenges of transition management is the amendment of collateralization for OTC derivatives. PAI (and implicitly discounting) needs to be adapted for EUR and USD-cash collateral from EONIA and EFFR to the new Risk Free Rates (RFRs) €STR and SOFR. This has to be done by the end of 2021 [1] (EUR) and the end of 2020 [2] (USD), respectively. While the adjustment for cleared derivatives is managed centrally by the CCPs, counterparties of bilaterally collateralized derivative portfolios must amend the collateral agreements by themselves. This requires EONIA or EFFR based legacy CSAs to be negotiated and compensation payments between counterparties to be settled. Complexity is increased further as many market participants still have some non-standardized legacy CSAs with features such as embedded floors or thresholds in place. Strategic options (backloading, counterparty selection, novat