FINRA Targeting High Frequency Trading in Probe

The Finance Industry Regulatory Authority (Finra) is looking into how trading firms self-regulate their algorithms used for High Frequency Trading. In response to several high profile anomalies in the trading market due to High Frequency Trading (HFT) in the past year, the Finance Industry Regulatory...

CFTC Commissioner Chilton’s Address to Hedge Fund Conference Covers HFT, Global Markets

On Tuesday, June 18th 2013, CFTC Commissioner Bart Chilton gave the keynote address in the conference Hedge Fund Industry in 2013, which was held in Chicago, Illinois. In the address, he gives some insight into the working parts behind the Commodities Futures Trading Commission, and why they see some aspects...

Stephen O’Connor Leaves Morgan Stanley to Become Full-Time ISDA Chairman

Stephen O’Connor is resigning from his position at Morgan Stanley to join the International Swaps and Derivatives Association, Inc (ISDA) as a full-time Chairman. With this new position, O’Connor will have a more  hands-on approach in driving ISDA’s strategic initiatives. The pace and scope of...

Bart Chilton to Propose Derivative Transaction Fee

Bart Chilton, Commissioner of the Commodity Futures Trading Commission (CFTC), plans to propose a transaction fee for derivative markets to help fund his agency and tighten regulation. The idea of a transaction fee has been tossed around for many years, but it has never really gained any steam. Chilton, one...

SEC Proposes New Exchange Tests to Prevent Tech Breakdowns

The Securities and Exchange Commission (SEC) is striving to limit and prevent technology breakdowns at at venues handling stock, options and bond trades, by proposing a new rule to prevent malfunctions that could harm markets. Bloomberg reports that for the first time, U.S. exchanges and brokers will be...

SEC Nominee White Vows ‘Bold and Unrelenting’ Enforcement

U.S. Securities and Exchange Commission (SEC) nominee Mary Jo White, intends to tell lawmakers that she will bring a “bold and unrelenting” enforcement program to the agency if she is confirmed by the U.S. Senate. Reuters reports that Ms. White stated in a prepared testimony released ahead of her...

CFTC Announces Mandatory Clearing of Swaps

Today, the CFTC announced today that swap dealers, major swap participants, and private funds active in the swaps market, are required to begin clearing certain index credit default swaps (CDS) and interest rate swaps that they entered into on, or after March 11, 2013. The CFTC stated in a press release,...

SEC Proposes Solutions to Trading Glitches

The Securities and Exchange Commission’s (SEC) proposal for solutions to major trading glitches on Wall Street was approved unanimously on Thursday. The Wall Street Journal indicates that the SEC’s proposal is a step toward preventing random computer glitches that disrupt markets, while also...

SEC, Other Regulators May Delay Volcker Rule

Five regulators working on the Volker rule may delay releasing a final version of the rule until the second half of the year. The Wall Street Journal reports that this is later than previously expected, and that the delays are caused by how complex creating a rule that bans risky bets has become. Dodd-Frank...

CFTC Announces Revised Compliance Schedule for Required Clearing

The CFTC’s Division of Clearing and Risk (DCR) today announced a revised compliance schedule for required clearing of iTraxx CDS Indices. The CFTC received notice from ICE Clear Credit LLC that it has begun offering customer clearing of the iTraxx CDS indices that are subject to the clearing...
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