James Tomkinson in Securities Lending Times 'Repositioning repo' panel debate

8 Jan 2013

Issue 67 of Securities Lending Times features the transcript of a panel discussion in which the industry’s leading experts discuss ESMA’s new guidelines, Basel III, the overhaul of the triparty model, and the possibility of Asia moving away from bilateral trading. James Tomkinson (OTC clearing and collateral management specialist, Rule Financial) was one of only six experts invited to participate in the discussion.

Joining James on the panel were Stefen Lepp (Member of the executive board and head of global securities financing, Clearstream), Saheed Awan (Global head of collateral management and securities financing, Euroclear), John Rivet (Global collateral management business executive, J. P. Morgan), Iain Colquhoun (Head of repo sales, Mitsubishi UFJ Securities Int Ltd), and Mark Dugdale (Editor, Securities Lending Times).

During the session the panellists were asked to respond to the following questions:

  • ESMA’s guidelines on repo and reverse repo agreements for UCITS funds are out and being prepared for implementation—are these what you expected and why?
  • How will the guidelines affect UCITS funds? Another bone of contention is Basel III—who will benefit from this regulation and who will lose out?
  • Is transparency of repo haircuts and repo levels a good idea?
  • What benefits do you believe collateral outsourcing can bring to your clients in the near future?
  • The triparty repo model is under reform in the US, but all signs point to its popularity and a knack for getting results. What are the benefits of this model?
  • How is Asia getting on with the triparty repo model—will the region move away from bilateral?

Each topic sparked a lively debate amongst the panellists and James contributed a number of knowledgeable opinions and ideas which helped steer the conversation.



The panel discussion transcript first appeared in issue 67 of Securities Lending Times. To view the article on the Securities Lending Times website click here

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James Tomkinson

Specialist in OTC Clearing and Collateral Management
James Tomkinson

'Repositioning repo' panel debate transcript

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