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Its a sad state of affairs when HR feel that remote sackings are the right way to go about things. Such cowardly behaviour says it all about Human Remains today that was once a department that cared for employees

They deserve all they get for this embarrasing mess and hopefully a few HR heads are lopped off 

This is a very major move and one that is fraught with danger for financial markets. As always the devil will be in the detail but it looks like costs in Financial markets are about to go up and by huge ammounts. The Post Trade Forum hosted by the London Stock Exchange will be debating the risks in CCPs and possible long term benefits. See Post Trade Forum on this site for booking details

Dust it off Kathleen! Its amazing how everything appears to change but nothing really. The time is here and now to make things happen

They could start also with clients like that lush Miss Piggy and that crazy Bear that is totally untrustworhy and that Gonzo chap who is just risk personified. Lookout for code names like the Kermit account or perhaps Big Bird you know the one that lays eggs

Come to think of it Goldman have their work cut out and maybe a humble apology and a resolve to their clients might be best. Hanging employees is not what will do the trick if its a ademic culture thing. Glad they are doing something anyway

There is no doubt a protective barrier to implmenting the changes that the market needs in clearing. I can not say how long this situation will last but i guess not for long. OTC in the frame could ignite the touch paper

I like the idea of an alternative to Clearing houses and see this as a quick and cost effective way of dealing with some of the problems at least. I am looking forward to giving these issues a good going over in the Post Trade Forum debate. It might be the only forum where a spade will be called a spade and the issues uncovered and decided upon

Remember SWIFT is a bank owned organisation and the Banks legally have to abide by sanctions. So SWIFT had no choice. Although i would prefer discussion rather than sanction i cant blame SWIFT for doing what they were told to do. The alternative is legal sanctions against SWIFT and possibly Banks

Yes very much so. SWIFT did not have a choice

Yes Kathleen the origins of local clearing made sense then but as we know the cross border investing has created multi national owners of the assets and those assets are now multi national. The introduction of OTC just complicates the default management and establishing beneficial ownership could be difficult and very time consuming

Part of the anser is for all CCPs to be under the same laws and jurisdictions but that looks unlikely in the short term

I will be interested in your views and the Post Trade Forum panel on this at the debate in April

Welcom back Kathleen and thanks for your comments. We would welcom you to join the Post Trade Forum Group on LinkedIn that is only open to participants and people from regulated FS firms. We will be writing a report on the debate within the restrictions of Chatham House rule for members of the Post Trade Forum and those attending the debate

Yup listen and think and innovate would be my mantra