Commodity Futures Trading Commission (CFTC)
Revived Dodd-Frank position limits worry energy firms
The US Commodity Futures Trading Commission is gearing up for another big fight over position limits, after its original rule was rejected by a federal court. The agency’s latest proposal, released in November, gives market participants little reason for…
Sefs face major delays in operating outside the US
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
Experts split on MAT determinations
Rules allowing Sefs to make available-to-trade determinations continue to cause concern, but some think an aggressive approach is justified
Fed discount window could resolve CCP collateral liquidity concerns, say clearers
US regulatory concerns about liquidity of government securities collateral could be resolved by access to the Fed’s discount window, CCP officials say
CFTC proposes 'unassailable' position limits rule
CFTC puts forward another Dodd-Frank position limits rule, generating concerns among commodity derivatives end-users
CME threatens to flee US as regulators challenge liquidity of US Treasury collateral
US CCPs may need committed funding to count US Treasury collateral as liquid
Javelin Capital Markets: The gate-crasher
The countdown to mandatory trading on swap execution facilities started last month when Javelin Capital Markets became the first Sef to file a product list with US regulators. Its chief executive, Jamie Cawley, tells Peter Madigan why market participants…
CFTC backs down on FCM residual interest rule
CFTC softens post-MF Global reforms to rules on segregated customer funds held by futures brokers
Rabobank fined $1 billion for Libor failings
Dutch bank the latest to pay for benchmark manipulation
Standardisation needed in Sef reporting conventions
Sefs agree a lack of clarity on reporting requirements has created an inconsistent and fragmented view of trading activity
Risk USA: Foreign banks cannot escape swap dealer status, warns CFTC's Barnett
The "day will come" when CFTC tries to ensure compliance by foreign banks that have not registered as swap dealers
BAML hires former Barclays oil head
ABN Amro undergoes shake-up; Marex Spectron sets up iron ore desks; Skylar adds power and gas trader; Barclays hires in commodities; CFTC appoints acting enforcement chief
A plea for certainty in regulation
Clear and unambiguous rules have the potential to satisfy advocates of sterner regulation, as well as regulated firms
Asia OTC markets at risk from lack of global CCP framework
HKMA concerned over the development of cross-border equivalence regulation
Shell unit seeks to register as swap dealer
Shell becomes second energy company to seek swap dealer status under Dodd-Frank
Leveraged ETFs under the spotlight
Imperfect storm
Asic hopeful of receiving substituted compliance from CFTC
Australian securities regulator positive about receiving US approval for the domestic regulatory regime
SEC at odds with Finra over Pip data
Agree to disagree
Another $100m fine for JP Morgan over London Whale market manipulation
Attempts to "defend" CDS positions broke the law, CFTC rules
Yellen nominated for Federal Reserve chair, and other recent job moves
Changing hats – November 2013
Sefs, shutdowns and no-action confusion
The new Sef trading regime came into force on October 2, but a flurry of last-minute no-action letters has left platforms confused – and there is no one at the CFTC to answer their questions. Peter Madigan reports
Dodd-Frank commodity option rules sow confusion among energy firms
Confusion over CFTC rules is tying US energy firms in knots, as they struggle to determine whether their physically settled commodity options need to comply with critical rules issued under the US Dodd-Frank Act. Alexander Osipovich reports
Asic temporarily exempts Australian banks from non-CFTC trade reporting requirements
Australian industry needs additional time to set up trade reporting infrastructure
CFTC substituted compliance process not clear enough – Risk.net poll
The majority of respondents to a Risk.net poll say they do not understand how CFTC substituted compliance determinations will be made