Ryan Baccus is vice president of market infrastructure and initiatives at Sapient Global Markets, a capital markets consulting firm. His work with MII involves advising clients on regulatory reporting, clearing, collateral management and general compliance issues. He spoke with John Lothian News Editor-at-Large Doug Ashburn about the status of Dodd-Frank related regulation and the Clearing Connectivity Standard (CCS), a reporting and communication standard for asset managers, futures commission merchants, central counterparties and custodians, which was developed by Sapient.

On October 24, 2012, the International Swaps and Derivatives Association (ISDA) announced their support of CCS and committed to help develop the standard with Sapient Global Markets.

Clearing Connectivity Standard

From Sapient Global Markets:

“Recognizing the opportunity for cost savings and process efficiency, Sapient Global Markets facilitated the creation of a new buy-side industry standard for margin statements through a collaborative conversation between Sapient Global Markets, FCMs and Custodians. The Clearing Connectivity Standard (CCS) – the result of this collaboration – establishes a standardized connectivity format that can be used by the FCM community to transmit OTC clearing related information to their Asset Manager clients, Custodians and CCPs. Specifically, it outlines all of the message elements that should be universally present in margin statements, defined by  fields, headers and descriptions.” (link)

Resources

  • Press Release: ISDA to Further Develop CCS, the Clearing Connectivity Standard, in Conjunction with Sapient Global Markets (link)
  • Clearing Connectivity Standard website (link)
  • Ryan Baccus on MarketsWiki (link)
  • ISDA on MarketsWiki (link)

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