Americas News
The latest industry and regulatory news affecting North and South America.
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Photo Gallery - FIA SIFMA AMG Forum 2019
Photos from the Fifth Annual Asset Management Derivatives Forum on February 13-15, 2019, at The Montage in Laguna Beach. The annual Asset Management Derivatives Forum brings together market participants from all sides of a trade to examine the latest developments in global derivatives trading and clearing, operations and regulation. The Forum presents a unique opportunity to connect investors with market expertise in over-the-counter and exchange-traded derivatives, attracting attendees from the joint membership of FIA and SIFMA AMG.
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Carbon Trading in North America: Two Steps Forward, One Step Back
Getting global agreement on environmental policies is incredibly difficult. But as the history of the North American carbon market illustrates, even getting regional players on the same page is no easy task.
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Better Data
The Commodity Futures Trading Commission's Division of Market Oversight on July 10 launched a comprehensive review of its swap data reporting regulations and invited input from entities involved in swaps reporting. The CFTC said the review has two goals: 1) to ensure that the CFTC receives accurate, complete and highquality data on swaps transactions for its regulatory oversight role; and 2) to streamline reporting, reduce the messages that must be reported, and "right-size" the number of data elements that are reported. The CFTC also provided a "roadmap" for the review process. The first tranche of rule changes will address swap data repository operations and the confirmation of data accuracy by swap counterparties. The second tranche will address reporting workflows generally, including standardization of data fields and potential delayed reporting deadlines.
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FIA publishes MiFID II and MiFIR compliance brief for U.S. FCMs
FIA has created a brief to help its members understand how the revised Markets in Financial Instruments Directive (MiFID II) and the associated Markets in Financial Instruments Regulation (MiFIR) may impact U.S. futures commission merchants (FCMs).
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Canada's AMF Forms a Fintech Lab and Joins Blockchain Partnership
Quebec’s financial regulator, the Autorité des Marchés Financiers, has created an internal think tank to explore applications of new technologies among the entities it regulates, including exchanges and clearinghouses, as well as potential applications to its own regulatory activities.
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Shorter Settlement
On March 22, the Securities and Exchange Commission approved a rule that will shorten the standard settlement cycle for most securities transactions to T+2 from T+3. Broker-dealers will be required to comply with the shorter settlement cycle beginning on Sept. 5.
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Rule 1.31
In January, the Commodity Futures Trading Commission issued a proposal to update and modernize Rule 1.31, which sets out certain recordkeeping requirements for futures commission merchants, commodity pool operators, trading firms that are exchange members, and other market participants.
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Trump Nomination
On May 2, the Senate confirmed the nomination of Jay Clayton to serve as chairman of the Securities and Exchange Commission. The nomination was approved in a 61 to 37 vote, with several Democrats joining their Republican colleagues in supporting the nomination. He was sworn into office on May 4.
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2016 FIA Annual Volume Survey: Global Futures and Options Volume Reaches Record Level
FIA’s annual survey of derivatives exchange volume revealed that the total number of futures and options traded on exchanges worldwide reached 25.22 billion contracts in 2016. Although that was only 1.7% higher than the previous year, the increase in the number of contracts traded was enough to set a new annual record for the derivatives exchange industry. The previous high was set in 2011, when total volume reached 24.98 billion. The annual survey includes tables and charts showing exchange and contract rankings as well as breakdowns by region and asset class, and the underlying data can be downloaded directly from the website in Excel format. Read Now
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FIA Special Report: Election aftermath - what to expect from the transition
Although the results of the Nov. 8 U.S. elections are not yet complete, all major news outlets have declared Donald Trump to be the winner of the presidential election, with Republican majorities in both the House of Representatives and the Senate.
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