Former chief executive charged alongside broking firm itself
In a time-limited relief letter issued last week, the CFTC recognises concerns expressed by agency firms over the implications of the external business conduct rules
The US Commodity Futures Trading Commission (CFTC) tried to regulate exchange of futures for swaps (EFS) transactions in 2004 and again in 2008. Then it tried to ban contingent EFS in 2010. All these attempts failed. Now the CFTC is investigating EFS...
Tradeweb and other would-be Sefs say they have been given too much power to decide which swaps are mandated to trade on platforms
Key CFTC ruling on scope of Dodd-Frank will arrive "very, very close" to July 12 expiry of current exemptive relief, Wetjen warns - and may not be finalised before that date
Lobbyists are hopeful a resolution will be reached to their concerns over external business conduct rules that have forced agencies to retreat from FX derivatives
Final execution rules in the US have given swap execution facilities the power to determine what products they will be allowed to trade. The entire industry appears to agree this is a terrible idea – including the trading venues themselves. Peter Madigan...
The US Dodd-Frank Act envisioned a new type of trading venue for over-the-counter derivatives, known as swap execution facilities (Sefs). But in the energy markets, at least, it appears Sefs are dead and traditional futures exchanges have emerged triumphant....
Questions over the ability to report OTC derivatives transactions to trade repositories mean some US dealers have stopped trading with each other
Agency desks warn they could be driven out of the market as a result of business conduct rules
Commissioner says lowering futures block trade thresholds skirts the intent of Dodd-Frank
CFTC commissioner warns lack of clear rules is "a major problem, nearly a crisis"
Clearing volumes dip as hundreds of new firms are caught by US clearing rules, but activity rebounded on June 11
Hundreds more firms will be required to start clearing in the US today, and FCMs are warning there could be an increase in rejected trades as a result
Many financial institutions in Asia would not be in a position to comply with Dodd-Frank cross-border applications should the CFTC’s exemptive order expire on schedule on July 12
Frustrated by inaction at the CFTC, public utilities champion new law on Dodd-Frank special entities threshold
Prime brokers have had to cancel four-way agreements for trades involving two buy-side firms, on the basis that a no-action letter issued by the CFTC on April 30 did not cover this type of business
Division of financial supervision among US agencies is impeding Dodd-Frank reforms, says ex-Fed chairman
Market surprised by change to swap execution facility rules, after final requirements were approved on May 16
Reporting for duty
CFTC commissioner warns about agency's "data dilemma" in exclusive video interview