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  • ABC.DOCs Wiki
    • Creating Documents
      • By Survey
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    • Demo
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      • ABCDocs for Benchmark Reform Re-papering
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    • Tutorials
      • Installing the Word Template Editor (Office 365 online)
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      • Templates
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  • AI ChatBot Landing Page
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  • ATLAS Fund Regulation
    • Canada Investment Rules
    • EU – AIFMD Annex IV Reporting
      • AIFMD Annex IV ESMA Opinion and Jurisdictional Differences
      • AIFMD Annex IV Reporting Secured Borrowing
      • AIFMD Data Taxonomies
      • AIFMD Reporting Codes – Decision Tree
      • AIFMD Small and Registered AIFM
      • Annex IV Reporting Private Equity and Real Estate AIF
      • ESMA Opinion – Master AIF Reporting
      • UK implementation of AIFMD
    • EU – Long Term Investment Funds
    • PRIIPs KID
      • Category II PRIIPs – What MRM calculations are required?
      • CRM Calculation Step 1
      • CRM Calculation Steps 2, 3 and 4
      • PRIIPs – The EPT
      • PRIIPs Costs and Charges
      • PRIIPs KID Template
      • PRIIPs KID Template Overview
      • PRIIPs KID vs UCITS KIIDs
      • PRIIPs MRM Market Calculation
      • PRIIPs Performance Scenarios
      • PRIIPs Risk Disclosures
      • PRIIPS Risk Overview (SRI, MRM and CRM)
      • The 4 PRIIPs Categories
      • The VEV Calculation – More Detail
    • EU – SFTR
    • EU – Solvency II
    • EU – UCITS and AIFMD Exposure Concepts
      • Commitment Exposure – The Difference between UCITS and AIFMD
      • Example 1: Derivative Supported by Cash and Risk-Free Assets
      • Example 2: The Relevance of Derivatives’ Unrealised Gain
      • Example 3: The Relevance of Derivatives Unrealised Loss
      • Example 4: Fund has borrowed cash to buy more equities
      • Example 5: Total Return Swap example
      • Example 6: Deleverage Example 1
      • Example 7: Deleverage Example 2
      • Example 8: Convertible Bonds
      • Example 9: Future combined with Forward FX
      • Recommendations For Change
    • UCITS / NURS KIIDs
      • KIID – Further Detail
      • KIID Template
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      • Ongoing Charges
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      • International Rules & Guidelines
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      • MALTA – Implementation of the UCITS Directive
      • Malta AIFMD vs PIFs
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        • Malta Loan Funds
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      • Malta: Collective Investment Schemes Law and Regulation
    • Nigeria Pension Funds
    • Open Protocol (OPERA) Reporting
    • Position Limits (including MIFID II)
    • Singapore Funds
    • Switzerland Investment Rules
      • BVV Funds
        • BBV Potential Reform
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      • Switzerland CISA Overview
        • CISA – Legal Structures
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        • CISO Derivatives
        • Real Estate Funds, Under CISA
        • Securities Funds, under CISA
    • UK – FCA Derivative Use Reporting
    • UK – Non-UCITS Funds
    • UK – NURS Rules
    • US – 13F Reporting
      • 13F Data Lists
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    • US – 1940 Act Investment Rules
    • US – Form CPO-PQR
    • US – Form N-PORT
    • US – Form PF Reporting
      • FORM PF Questions Summary
        • FORM PF Question 1
        • FORM PF Question 10
        • FORM PF Question 11
        • FORM PF Question 12
        • FORM PF Question 13
        • FORM PF Question 14
        • FORM PF Question 15
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        • FORM PF Question 17
        • FORM PF Question 18
        • FORM PF Question 19
        • FORM PF Question 2
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        • FORM PF Question 21
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        • FORM PF Question 26
        • FORM PF Question 27
        • FORM PF Question 28
        • FORM PF Question 29
        • FORM PF Question 3
        • FORM PF Question 30
        • FORM PF Question 31
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        • FORM PF Question 33
        • FORM PF Question 34
        • FORM PF Question 35
        • FORM PF Question 36
        • FORM PF Question 37
        • FORM PF Question 38
        • FORM PF Question 39
        • FORM PF Question 4
        • FORM PF Question 40
        • FORM PF Question 41
        • FORM PF Question 42
        • FORM PF Question 43
        • FORM PF Question 44
        • FORM PF Question 45
        • FORM PF Question 46
        • FORM PF Question 47
        • FORM PF Question 48
        • FORM PF Question 49
        • FORM PF Question 5
        • FORM PF Question 50
        • FORM PF Question 51
        • FORM PF Question 52
        • FORM PF Question 53
        • FORM PF Question 54
        • FORM PF Question 55
        • FORM PF Question 56
        • FORM PF Question 57
        • FORM PF Question 58
        • FORM PF Question 59
        • FORM PF Question 6
        • FORM PF Question 60
        • FORM PF Question 61
        • FORM PF Question 62
        • FORM PF Question 63
        • FORM PF Question 64
        • FORM PF Question 65
        • FORM PF Question 66
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        • FORM PF Question 68
        • FORM PF Question 69
        • FORM PF Question 7
        • FORM PF Question 70
        • FORM PF Question 71
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        • FORM PF Question 73
        • FORM PF Question 74
        • FORM PF Question 75
        • FORM PF Question 76
        • FORM PF Question 77
        • FORM PF Question 78
        • FORM PF Question 79
        • FORM PF Question 8
        • FORM PF Question 9
      • The Form PF Filing Process
      • US Form PF Exposure Concepts
    • US – Money Market Funds
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  • Funds-Axis Technology
    • Data Requirements
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  • FundWare – Basic Training
  • Highwire Atlas Version 3
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  • HighWire Module Hub
    • AIFMD Annex IV File Formats and Requirements
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    • Alternative Assets Wiki
      • Alternative Assets Sandbox Portfolios
      • Asset Types
      • Illiquid Alternatives
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    • Assessment of Value
      • Assessment of Value Brochure
      • Assessment of Value Video
    • Assessment of Value Module
    • ATLAS Funds Training
      • ATLAS Funds Training Video
      • Brochure
    • ATLAS Funds Training Information Portal
    • ATLAS Funds Training Information Portal Video
    • Atlas Video
    • Cashflow Monitoring
      • Brochure
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      • Cashflow Regulatory Information
      • Common Error Messages
      • Video
    • Cashflow Monitoring Data Files
      • Cashflows file
    • Client Data
      • Administrators – File Requirements & Mappings
      • Costs and Charges
      • Data – Client Data Flows
      • Data – Users and Roles
      • Data Connections
      • File Requirements and Formats
      • FundWare – Client – NAV – File – Specifications
      • Group, Manager, Entity, Portfolio and Shareclass Static Data Templates
      • Portfolio Holdings
      • Portfolio Summaries and Returns
      • Prices, Values and Dividends
      • Reuters File Specification
      • Security Data File Specification
      • Transaction Costs
    • Comparing Investment Limits: NURS vs. UCITS
    • Counterparty Risk
    • Counterparty Risk Monitoring Module
    • CPO-PQR
    • Custody Market Oversight
      • Brochure
      • Video
    • Custody Market Oversight Module
    • Daily Client Governance
    • Data Quality Management
    • Decision Trees
      • IBP – 2.2 Darren Open Ended Funds / 650630217
      • IBP – 2.3 Is it equivalent to a UCITS / 393541808
      • IBP – 3. Eligible Deposit / 823095231
      • IBP – Additional criteria for closed end-funds / 968329355
      • IBP – Approved Deposit Takers / 916506419
      • IBP – Approved Money Market Instruments / 558037057
      • IBP – Approved Transferable securities – practical / 176732280
      • IBP – Closed end funds – subject to corporate governance mechanism / 323183939
      • IBP – Darren eligible TS / 640944159
      • IBP – Derivatives on Financial Indices / 685437239
      • IBP – Eligible Markets Assessment – PL / 522866454
      • IBP – HighWire HelpDesk: Resolving breaches and understanding rules / 563395676
      • IBP – Indices – Adequate diversification / 133638671
      • IBP – Is it an eligible Derivative / 238854105
      • IBP – OTC Derivative Counterparties / 939123244
      • IBP – SFI / 510610755
      • IBP – UCITS Asset Eligibility / 329477059
      • IBP – UCITS Equivalent Assessment – PL / 681715816
      • iBP 2.1 Eligible Collective Investment Schemes / 762159968
      • IBP1 – Investment Compliance Q&A / 660796844
    • Depositary Cashflow Monitoring Module
    • Derivatives Exposure
      • Derivative Concepts Summary
      • Security Identifiers
      • Standard Set-up ETD
    • Dual Disclosures
      • Canada – Major Shareholdings
      • Dual Disclosures Overview
      • EU Short Selling
      • EU Transparency Directive
      • Identifying Canadian Issuer in scope for AMR / EWR Disclosures
      • Identifying EU Transparency Directive Disclosure in Scope
      • Identifying Schedule 13D / G Securities in Scope
      • Identifying UK Major Shareholding Disclosure in Scope
      • UK Short Selling
      • United States – 13D & G
    • EMT/EPT Framework
    • ESG and Sanctions Monitoring
      • Cannabis Stocks
      • Cluster Munitions
      • Country of Risk
      • Cryptocurrency Stocks
      • International Sanctions Lists
      • Russia
      • Sanctions Monitoring
      • Sin Stocks
        • Pornography and adult Entertainment
    • EU MMF
    • Factsheets
      • Data Requirements
    • Factsheets and KIIDs
      • Brochure
      • Factsheets Video
    • FCA Derivative Use
      • FCA Derivative Use – Data Taxonomy
      • FCA Derivative Use – FCA Queries
      • FCA Derivative Use – How to File on Gabriel
      • FCA Derivative Use Brochure
      • FCA Derivative Use Error Messages
      • FCA Derivative Use Video
    • FCA Derivative Use Reporting Module
    • File Requirements and Formats COPY
    • Foreign Investment Rules Module
    • Form PF
      • Data Requirements Docs
      • US Form PF Reporting Brochure
      • US Form PF Reporting Video
    • FundWare – Client – General – File – Specifications
    • FundWare – Client – Shareholder Disclosures simplified – File – Specifications
    • Global Disclosures
      • Brochure
    • Global Disclosures Information Portal Video
    • Global Exchanges
      • Brochure
      • Video
    • Global Exchanges Information Portal
    • Global Exchanges Video
    • Highwire Counterparty Risk Module
    • HighWire Data Dictionary
    • HighWire Data Mapping Framework
    • HighWire e-Learning Hub
    • HighWire Home v3
    • Industry Sectors Monitoring
    • Investment Compliance
      • Brochure
      • Brochures
      • Investigating Breaches
      • Investment Compliance Video
      • Quick Q&A
      • Rules Libraries
      • Rules Writing
        • Module Overview / Training
        • Style Guide
      • Sandbox Test Documentation
        • Rules Testing – Test Script (Rule 1 – Rule 10)
        • Rules Testing – Test Script (Rule 11 – Rule 33)
        • Sandbox – Testing – Data Files
        • Sandbox – Testing – Organisation
        • Sandbox – Testing – UCITS
      • UCITS
    • Investment Compliance Wiki
    • Investment Compliance, Risk, Shareholder Disclosures
    • Investor Communications Regulation
      • Branding Templates
      • DCPT (Defined Contribution Pension Template)
      • EMT (European MiFID Template)
      • FVPT (Fair Value Pricing Template)
      • INVESTOR COMMS – Data Mappings
        • Dissemination Template
        • Registration & Distribution Template
      • The European ESG Template (EET)
      • VaR Templates
    • Leverage Requirements Monitoring Module
    • Liquidity Risk
      • Atlas e-Learning
      • Calculations
      • Inputs
      • Liquidity Contractual Basis Methodology
      • Liquidity Fixed Income Methodology
      • Liquidity Fund of Funds Methodology
      • Liquidity Market Data Requirements
        • Liquidity Onboarding Checklist
      • Liquidity Risk Brochure
      • Liquidity Risk Video
      • Liquidity RMP Consultancy Support
      • Liquidity Troubleshooting
      • LST – Stress Tests Overview
      • Module Specifications
        • Liquidity Defaults – Contractual Basis Assets
      • Quick Q&A
      • Regulatory News & Blogs
    • Liquidity Risk Management & Monitoring Module
    • Major Shareholdings Module
    • Market Risk Monitoring Module
    • NAV Oversight
      • Brochure
      • Data Requirements
      • NAV Oversight Video
    • NAV Oversight and Validation Module
    • Non-UCITS Investment Compliance Module
    • Portfolio and Shareclass Statistics
      • Active Premium
      • Alpha
      • Beta
      • Brochure
      • Capture & Market Percentage Ratio
      • Cost Calculations
      • Excess Returns
      • Jensen’s Alpha
      • Kurtosis
      • Market Correlation
      • Market Risk Measure (MRM)
      • Maximum Drawdown
      • Sharpe Ratio
      • Skewness
      • Sortino Ratio
      • Standard Deviation
      • Treynor Ratio
      • Value at Risk (VaR)
      • VaR Equivalent Volatility (VEV)
      • Video
    • Portfolio Statistics Module
    • Prospectus & Mandate Limits Compliance Module
    • Risk Monitoring
      • Brochure
      • Risk Module Video
    • Rules Summaries and Troubleshooting
      • UCITS Legislation
        • UCITS Rules References
        • UCITS Rules Summary
      • UK NURS Legislation
        • UK NURS Rules References
        • UK NURS Rules Summary
    • Rules Writing
      • Complex Rules
      • Groupings of Assets
      • Investment Rules – Other Common Restrictions
      • Pre-coded Regulatory Rules and Prospectus Rules
      • Prospectus Rules Investment Rules
      • Rules writing – prospectus review
      • Rules Writing Style Guide
    • Sector Rules Compliance Module
    • Sensitive Sector Rules Module
    • Shareholder Disclosures
      • Brochure
      • Client Daily Processes
      • Data Requirements
      • Data Terminology
      • Rules Testing & Documentation
      • Shareholder Disclosures Video
    • Shareholder Disclosures Integration DB
      • Foreign Investment Rules
      • Issuer Limits
      • Large Shareholdings
        • Large Shareholdings – Briefing Papers & Blogs
        • Notification Portals – Quick Links – Large Shareholdings
        • Thresholds Overview – Major Shareholdings
      • Sensitive Sectors
      • Short Selling
        • Notification Portals – Quick Links – Short Selling
        • Short Selling – Briefing Papers & Blogs
        • Thresholds Overview – Short Selling
      • Takeover Disclosures
        • Notification Portals – Quick Links – Takeover Dealing Disclosures
        • Takeover Disclosures – Briefing Papers & Blogs
        • Thresholds Overview – Takeovers
    • Standard Identifiers
    • Takeover Disclosures Module
    • UCITS Decision Trees
    • UCITS Investment Compliance
      • Latest News
      • UCITS Country Comparisons
      • UCITS Derivatives Rules
      • UCITS Eligible Assets
        • UCITS Eligible Assets Decision Trees
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        • UCITS Eligible Markets Decision Tree
      • UCITS EPM Rules
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      • UCITS Investment Rules
      • UCITS Legislation & Overview
    • UCITS Investment Compliance Module
    • UCITS KIID
      • UCITS KIID – User Guides and Data Requirements
        • Data Templates
        • Onboarding Documents
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          • UCITS KIID Ongoing Charge
          • UCITS KIID Performance Graph
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        • User Guides
    • UCITS Rules Not Applicable to NURS: A Comparative Overview
    • UCITS Value at Risk Module
    • Underlying Funds Holdings Files
    • US 13F Reporting
      • Brochure
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    • US 1940 Act
      • US 1940 Act Investment Compliance Module Video
    • US 1940 Act Investment Compliance Module
    • US Form 13F Reporting Module
      • US Form 13F Reporting Module Video
    • US Form PF Reporting Module
    • Value at Risk (VaR)
      • Brochure
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      • VaR Backtesting
      • VaR Regulatory Provisions
      • VaR Time Conversions
    • AIFMD Annex IV
      • AIFMD Annex IV Data Requirements
        • AIFMD Annex IV Data – Other Data
        • AIFMD Annex IV Data Requirements Static
        • AIFMD Annex IV Data Trades
        • Client Investment Compliance File Specifications
      • AIFMD Annex IV Reporting Module Video
      • AIFMD System Troubshooting
      • Annex IV Operations
        • Step 1 – Preparation Tracker & Reporting Funds
        • Step 2 – Static Data
        • Step 3 – Generally Static Data
        • Step 4 – Review of Security Data Set up
        • Step 5 – Re uploading of Month End Holdings
        • Step 6 – Data Enrichment
        • Step 6a – Exchange Check
        • Step 6b – Countries Check
        • Step 6c – Liquidity Check
        • Step 6d – Market Codes, Types and code types
      • Brochure
  • HighWire Release Notes
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  • Investment Compliance – June 2023
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  • Leverage
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    • Commitment Method Exposure – Funds-Axis Recommendations for Change
    • Regulations
    • UCITS Commitment vs. AIFMD Commitment – The key differences
  • Liquidity Calculations Traded Volume Basis Methodology
  • Liquidity v2
  • Major Shareholding Thresholds
  • Pieter Dual Disclosures
  • Pulse Dashboard
  • reports
  • Restricted Access
  • Sandbox & Test Portfolios
  • SFDR
  • Shareholder Disclosures Integration
    • Briefing Papers
      • 13F Eligibility Indirect Transactions 2018
      • 13F Late Filings and Penalties
      • Disclosure Requirements for Section 13F Reporting
      • Disclosure Requirements for UK Takeover Rule 8
      • EU Acquisitions Directive Summary
      • Form 13F Registration Requirements
      • Global Shareholder Disclosure Rules – Overview – Part 1
      • Global Shareholder Rules – The Challenges – Part 2
      • Position Limits Regulatory Developments
      • Regulatory Briefing – 13H
      • Singapore Short Position Reporting White Paper
      • TDAD and Horizontal Aggregation
      • TDAD Thresholds
      • Transparency Directive Amending Directive (TDAD) and its impact on UK DTR 5
      • US 13D & 13G Reporting
    • Data
      • 13F Data Files
      • Denominator Search
      • Issuer Announcements
      • National Storage Databases
      • Short Selling Exempt Shares
    • Decision Trees
    • Disclosures Module
    • Global Takeovers Module
    • Issuer Reporting Module
    • Knowledge Centre
      • 13F
      • Canada Disclosures Required During a Takeover
      • Canada EWR, AMR & SEDI Insider Reporting
      • Canadian Reporting Issuers
      • Common Breaches
      • Confirming securities in scope for Schedule 13D / G Disclosures
      • Disclosure Forms requiring Transaction Data
      • EU Short Selling – Determination of a Notifiable Position in Shares
      • EU Short Selling Disclosure Template
      • France Short Selling Disclosure
      • Global Short Selling Reporting Overview
      • Guide to Sensitive Sectors
      • Populating Form 8.3
      • Private Issuer Notifications
      • Schedule 13D/G Convertible Instruments Treatment
      • Schedule 13D/G Overview
      • Schedule 13G Beneficial Ownership
      • Schedule 13G Form Checklist
      • Swedish Major Shareholding Disclosure: Portal Submission
      • Takeover Rule 8.3 Overview
      • Takeover Rule 8.3: In-Specie Transfers
      • TDAD Horizontal Aggregation
      • Transparency Directive
      • UK Short Selling Disclosure Notes
      • UK/EU Short Selling Reporting Checks
      • What Denominator?
    • Notification Portals – Quick Links
    • Rule Pop ups
    • Sensitive Sectors Module
    • Thresholds Overview Module
  • Shareholder Disclosures Integration v2
  • System Administration Guides
    • User Set-up
      • Brochure
      • Video
    • User Administration
      • Brochure
      • Video
    • Overview of Roles
      • Brochure
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    • Editing a Role
      • Brochure
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    • Setting-up Managers and Portfolios
      • Brochure
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    • Portfolio Permission Groups
      • Brochure
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    • Data Batches and Rule Batches
      • Brochure
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    • Data Mapping Configuration
      • Brochure
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    • Data Operations – Uploading Data Files
      • Brochure
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    • Manual Data Management
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    • Rules Configuration
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    • User Defined Selections
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    • Domain Management, User Enrollment
      • Brochure
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    • Locked Data Mappings
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      • Brochure
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  • Test
  • The European ESG Template (EET)
  • Training Academy
    • AIFMD Training
    • Counterparty Exposure
    • Derivatives e-Learning Hub
    • Introduction to AIFMD Annex IV Reporting
    • Introduction to Derivatives
    • Introduction to UCITS
    • Leverage (Commitment / Gross)
    • Liquidity Risk Management
    • Shareholder Disclosures
    • UCITS – Value-at-Risk
    • UCITS & AIFMD Risk Management
    • UCITS and VAR
    • UCITS Derivatives Rules
    • UCITS Eligible Assets
    • UCITS Investment Rules
    • UCITS KIID Training
    • UCITS Training
  • Trevor Test
  • UCITS Eligible Assets – Decision Tree
  • UCITS Eligible Markets – Decision Tree
  • UK NURS Schemes
  • UK TCFD
  • Video
  • WP File download search
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  • ABC.DOCs Wiki
    • Creating Documents
      • By Survey
      • Excel Upload
      • Using the API
    • Demo
    • Product Brochures
      • ABCDocs for Benchmark Reform Re-papering
      • ABCDocs for Factsheets
      • ABCDocs for HR
      • ABCDocs for Initial Margining
      • ABCDocs for ISDA
      • ABCDocs for KIIDs
      • ABCDocs for Structured Products Term Sheets
      • ABCDocs Product Overview
    • Tutorials
      • Installing the Word Template Editor (Office 365 online)
      • Installing the Word Template Editor (Office 365 Desktop App)
      • Understanding Roles and Permissions
      • Templates
        • Creating Templates
        • Deleting Templates
        • Using Conditions
        • Using Switches
        • Using Rules
        • Creating Graphs and Charts
        • Using Translations
  • AI ChatBot Landing Page
  • AI-Extractor
  • AI-Extractor-FA
  • ATLAS Fund Regulation
    • Canada Investment Rules
    • EU – AIFMD Annex IV Reporting
      • AIFMD Annex IV ESMA Opinion and Jurisdictional Differences
      • AIFMD Annex IV Reporting Secured Borrowing
      • AIFMD Data Taxonomies
      • AIFMD Reporting Codes – Decision Tree
      • AIFMD Small and Registered AIFM
      • Annex IV Reporting Private Equity and Real Estate AIF
      • ESMA Opinion – Master AIF Reporting
      • UK implementation of AIFMD
    • EU – Long Term Investment Funds
    • PRIIPs KID
      • Category II PRIIPs – What MRM calculations are required?
      • CRM Calculation Step 1
      • CRM Calculation Steps 2, 3 and 4
      • PRIIPs – The EPT
      • PRIIPs Costs and Charges
      • PRIIPs KID Template
      • PRIIPs KID Template Overview
      • PRIIPs KID vs UCITS KIIDs
      • PRIIPs MRM Market Calculation
      • PRIIPs Performance Scenarios
      • PRIIPs Risk Disclosures
      • PRIIPS Risk Overview (SRI, MRM and CRM)
      • The 4 PRIIPs Categories
      • The VEV Calculation – More Detail
    • EU – SFTR
    • EU – Solvency II
    • EU – UCITS and AIFMD Exposure Concepts
      • Commitment Exposure – The Difference between UCITS and AIFMD
      • Example 1: Derivative Supported by Cash and Risk-Free Assets
      • Example 2: The Relevance of Derivatives’ Unrealised Gain
      • Example 3: The Relevance of Derivatives Unrealised Loss
      • Example 4: Fund has borrowed cash to buy more equities
      • Example 5: Total Return Swap example
      • Example 6: Deleverage Example 1
      • Example 7: Deleverage Example 2
      • Example 8: Convertible Bonds
      • Example 9: Future combined with Forward FX
      • Recommendations For Change
    • UCITS / NURS KIIDs
      • KIID – Further Detail
      • KIID Template
      • KIIDs – Structured Funds
      • Ongoing Charges
      • SRRI Number
    • Hong Kong Rules
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    • Islamic Funds
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      • International Rules & Guidelines
    • Luxembourg Non-UCITS Rules
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      • MALTA – Implementation of the UCITS Directive
      • Malta AIFMD vs PIFs
      • Malta Fund Structures
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Tag Archives: illiquid assets

Further Liquidity Regulatory Scrutiny Needed

LiquidityBy Trevor Dempster15th October 2020

Last month it was great to see a number of key liquidity developments finally enter into force, including: ESMA’s new guidelines on liquidity stress testing in UCITS and AIFs The…

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