The certification means that certain swaps handled by both TrueEx and Tradeweb will now fall under the trade execution mandate, and will now have to be traded over swap execution facilities (SEFs).
According to CFTC.gov, five federal agencies have approved an interim rule that will allow banks to keep certain securities, namely collateralized debt obligations, which are backed by trust preferred securities (TruPS CDOs).
The driving force behind this reform comes from public and political complaints over the risk involved with having banks trade physical commodities like crude oil and aluminum.
According to Bloomberg, the Commodity Futures Trading Commission (CFTC) is set to push interest-rate and credit swaps onto SEFs in the near future. While the CFTC is currently reviewing the plans, they haven’t found any reason to object to them as of yet. And with the first of these new requirements being instituted on January 16th, […]
With this approval, the Singapore Exchange can now offer US traders local clearing services for products like iron ore swaps, interest rate swaps and non-deliverable foreign exchange forwards.
The decision will be made no later than January 15th, regulators say. While banks had argued for a decision to be made by the end of the year, regulators have stated that a decision by mid-January will have to suffice.
Though the rule is supposed to go into effect on the 31st, many banks have already asked for and received grace periods of up to two years to comply.
According to Lexology, a district of Massachusetts judge has ruled in favor of Richard Ellington in the Ellington v. Giacoumakis case, denying the defendant’s claim that Dodd-Frank whistleblower protections only apply to those who report violations directly to the SEC.
According to the Wall Street Journal, the Federal Deposit Insurance Corp., Federal Reserve Board, Securities and Exchange Commission, and Commodity Futures Trading Commission have all voted to approve the infamous Volcker Rule. While the vote for Volcker Rule approval was unanimous for the FDIC and the Federal Reserve, the CFTC approved it by 3-1, while […]
According to the New York Post, several of the US’s largest banks plan to sue the Commodity Futures Trading Commission (CFTC) over some of the new rules it has been implementing. The banks are looking to get many of the new rules reversed through the law suit, citing that the CFTC violated rulemaking procedures while […]
Borsa Italiana will implement a new order message tag in February that will allow participants in IDEM, its futures and options market, to indicate the type of execution method used at the point...FIA welcomes the statement from European Commission Vice President Valdis Dombrovskis today proposing to renew the time-limited equivalence decision for UK CCPs. As set out in the joint trade...London, UK—Today, 14 financial services trade associations wrote to European Commission Vice President Valdis Dombrovskis to highlight the need for an urgent extension to the temporary equivalence...Chicago—FIA announced today that Hivemind , a data science startup based in the U.K., has been named the FIA Innovator of the Year. Hivemind was selected by a panel of independent judges after a...At an FIA Expo panel discussion on Oct. 30, a diverse selection of experts offered the public sector, clearing, exchange, and corporate perspectives on sustainability issues. Despite the different...As with so many other areas of society, the financial industry has recognized the importance of fostering diversity in its workforce. That commitment to diversity was on display again at FIA Expo...By most quantitative measures, the cleared derivatives industry is bigger and better than ever before. But based on comments at FIA Expo conference in Chicago on Oct. 30, future growth may not be...(Feed generated with FetchRSS) […]
Press release about the Basel Committee consulting on Pillar 3 disclosure templates related to banks' market risk and sovereign exposures, 14 November 2019. […]
The Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS) today launched the BIS Innovation Hub Centre in Singapore. […]
Appointments made to lead BIS central bank groups, 11 November 2019. […]
Benoît Cœuré has been appointed to head BIS Innovation Hub, 11 November 2019. […]
Press release about the Basel Committee consulting on guidelines on cooperation between the prudential and AML/CFT supervision, 8 November 2019. […]
Press release about Basel Committee assesses members' implementation of the Net Stable Funding Ratio and large exposures framework, 7 November 2019. […]
Press Release - The Basel Committee announces Canada as host of the 2020 International Conference of Banking Supervisors, 31 October 2019. […]
Press Release - The Basel Committee discusses policy and supervisory initiatives and approves implementation reports, 31 October 2019. […]
Press Release - Basel Committee reports on Basel III implementation progress, 16 October 2019. Release of the "Seventeenth progress report on adoption of the Basel regulatory framework". […]
Report sets out governance of key OTC derivatives data elements, 9 October 2019. […]
The Swiss National Bank (SNB) and the Bank for International Settlements (BIS) have today signed an operational agreement on the BIS Innovation Hub Centre in Switzerland. […]
The Committee on the Global Financial System (CGFS) and the Markets Committee have published two major reports on the implementation and implications of unconventional monetary policy tools (UMPTs) introduced by central banks in response to the financial crisis and its aftermath. […]
FINRA cautions investors who are considering binary options to be alert to potentially fraudulent schemes, and particularly wary of non-U.S. companies that offer binary options trading platforms. […]
Press Release - Basel III monitoring results based on end-2018 data published by the Basel Committee, 2 October 2019. […]
October 1-7, 2019 is World Investor Week, a global campaign to raise awareness about the importance of investor education and protection. U.S. securities regulators offer these key messages for Main Street investors. […]
The Bank for International Settlements (BIS) and the Hong Kong Monetary Authority (HKMA) have today signed an Operational Agreement on the BIS Innovation Hub Centre in Hong Kong SAR. […]
BIS Press Release - The September 2019 issue of the BIS Quarterly Review - Markets swing on trade and monetary policy […]
The Board of Directors of the Bank for International Settlements (BIS) has appointed Ravi Menon as Chair of the BIS Asian Consultative Council (ACC) from 26 September 2019. Mr Menon is Managing Director of the Monetary Authority of Singapore. The term of appointment for the ACC Chairman is two years. (Press release, 18 September 2019) […]
The Bank for International Settlements (BIS) and the Hong Kong Monetary Authority (HKMA) have today signed an Operational Agreement on the BIS Innovation Hub Centre in Hong Kong SAR. […]
CFTC Law Copyright © 2019.