Americas News
The latest industry and regulatory news affecting North and South America.
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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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FIA PTG opposes proposed changes to NYSE MKT's CUBE auction fees
FIA PTG filed a comment letter with the Securities and Exchange Commission (SEC) today opposing NYSE MKT's proposed changes to CUBE auction fees. The SEC suspended the rule change and requested public comment on the proposed changes, noting concerns "about the potential effect the proposal may have on the operation of the CUBE Auction and its potential to provide price improvement to customers, as well as on competition among participants initiating CUBE Auctions and those responding to them."
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Nasdaq sponsoring FIA’s Innovators Pavilion
FIA announced that the second annual Innovators Pavilion will be sponsored by Nasdaq, with additional support from FinTEx Chicago, FinTech Sandbox and Hyde Park Angels.
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FIA PTG Comment letter supporting change to ICE block trade FAQs
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IDX Video: IOSCO targets clearing issues
Paul Andrews, the new head of the International Organization of Securities Commissions, is planning to stake out positions on two issues of critical importance to the derivatives markets: equivalence determinations and the leverage ratio.
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