Commodity Futures Trading Commission (CFTC)
‘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…
US dealers stop trading to avoid breaching China privacy laws
Questions over the ability to report OTC derivatives transactions to trade repositories mean some US dealers have stopped trading with each other
Prime brokers shun forex agency desks over CFTC rules
Agency desks warn they could be driven out of the market as a result of business conduct rules
CFTC's Chilton blasts exchanges on block thresholds
Commissioner says lowering futures block trade thresholds skirts the intent of Dodd-Frank
OpRisk Europe: CFTC must extend cross-border deadline, O'Malia says
CFTC commissioner warns lack of clear rules is "a major problem, nearly a crisis"
OTC volumes shrink as category two clearing begins in US
Clearing volumes dip as hundreds of new firms are caught by US clearing rules, but activity rebounded on June 11
Fails could jump as category two clearing starts in US, FCMs warn
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
Asian firms not likely to be compliant with cross-border Dodd-Frank on July 12
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
US public utilities take CFTC fight to Congress
Frustrated by inaction at the CFTC, public utilities champion new law on Dodd-Frank special entities threshold
FX prime brokers forced to terminate double give-up trades
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
Volcker: Regulatory split creates ‘indecision and stalemate’
Division of financial supervision among US agencies is impeding Dodd-Frank reforms, says ex-Fed chairman
Sef rules continue to raise questions
Market surprised by change to swap execution facility rules, after final requirements were approved on May 16
