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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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Project KISS
On March 15, Chris Giancarlo, the acting chairman of the Commodity Futures Trading Commission, announced a three-pronged plan to renovate derivatives regulation that he called Project KISS, which stands for “keep it simple, stupid.”
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OTC Derivatives Reform
On April 28, the Monetary Authority of Singapore issued a consultation paper to further implement OTC regulatory reform in Singapore.
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Neither a Borrower Nor a Lender Be: On CCPs and Banks
A central counterparty, viewed from an economic perspective, is a “commitment mechanism.”
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OTC Clearing
On March 21, Hong Kong Exchanges and Clearing announced that it has launched a client clearing service ahead of the first phase of mandatory clearing in Hong Kong set for July 1.
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Leverage Ratio
On April 13, the Hong Kong Monetary Authority issued a consultation on the implementation of the Basel III leverage ratio framework in Hong Kong.
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Cyber Guidelines
The World Federation of Exchanges, which represents more than 200 exchanges, clearinghouses and other market infrastructure operators, published a set of cyber-resilience standards in April.
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Cloud Over London
On May 4, the European Commission issued a policy statement discussing its plans to issue legislative proposals by the end of June to address “important and emerging challenges” in derivatives clearing.
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Bits to Barrels
Trafigura, the global commodity trading house, is experimenting with a distributed ledger system for processing trades in crude oil.
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FIA and FIA PTG decry CFTC’S prescriptive approach
On May 1, FIA and the FIA Principal Traders Group submitted a joint comment letter opposing overly prescriptive regulation of automated trading.
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