Commodity Futures Trading Commission (CFTC)
Unclear on substituted compliance
The US Commodity Futures Trading Commission’s final cross-border guidance, published on July 12, provides answers to some long-running puzzles, but also generates a host of new questions. Critics say the rules are rushed and full of ambiguities – not…
Risk on extraterritoriality
The CFTC published its final cross-border rules on July 12. Nick Sawyer and Duncan Wood discuss some of the implications
High-frequency trader fined $3.1 million for market manipulation
CFTC, CME and FCA fine Michael Coscia and Panther Energy Trading in first case of its kind
Australia mandates OTC clearing to ensure substituted compliance
Global regulatory agenda drives switch from market-based incentives to clearing
CFTC cross-border guidelines give US banks in Singapore swap trade booking quandary
Singapore dollar trade potentially hit by US person rule
CFTC names head of whistleblower office
Ehrman joins from SEC enforcement division
Singapore's absence from CFTC substituted compliance regime creates uncertainty
Treatment of Singapore-based branches of US firms unclear
CFTC cross-border rules slammed as ‘rushed’
The CFTC appears to make some concessions in its cross-border rules, but critics question how substituted compliance will work, and claim the overall framework has been rushed
CFTC-EC ‘stricter-rule applies’ cross-border agreement worries market
Lawyers warn allowing strictest regulation to prevail will create heavy-handed regime
Asic trade reporting rules seek convergence with international standards
Australian trade reporting rules to be in force by October
BP registers as swap dealer
BP registers its US-based energy trading subsidiary as a swap dealer, becoming the first oil and gas major to opt for dealer status under Dodd-Frank
Op risk models provoke concern at conference: video
Highlights from this year's OpRisk Europe conference
‘Sef-lite’ environment remains confusing for platforms
Market participants still unclear on the implications of the requirement for multibank platforms trading non-cleared swaps to register as swap execution facilities
CFTC extends no-action relief for reporting of Asian counterparties
Masking of counterparty name extended to June 30, 2014
CFTC cleans house at FCMs
CFTC has increased its scrutiny of futures brokers and their handling of customer funds since MF Global collapse
CFTC charges Corzine for MF Global collapse
Former chief executive charged alongside broking firm itself
CFTC bows to agency desk concerns with further relief letter
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
Lawyers slam CFTC's "mindboggling" probe of EFS market it helped set up
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…
Sefs worry MAT rules will create ‘race to the bottom’
Tradeweb and other would-be Sefs say they have been given too much power to decide which swaps are mandated to trade on platforms
Lack of cross-border clarity could be threat to US, says CFTC’s Wetjen
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
Agency brokers ‘encouraged’ by CFTC response to concerns
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
Too much power: Sefs warn on 'available to trade' rules
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…
Futurisation dooms energy swap execution facilities
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…