by Avadhut Naik (Quantifi) and Sol Steinberg (OTC Partners)
The financial markets have undergone dramatic change. While some of this is down to natural evolution, much of the change can be directly attributed to new rules introduced in the wake of the 2007 crisis. The combination of the Dodd-Frank Act, EMIR, MiFID ll and Basel lll signify the biggest regulatory change in decades. These reforms have triggered major change in how financial products are traded, settled, collateralized and reported, resulting in deep ongoing structural changes to the markets.