MarketVoice News
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Swap Clearing in China
On Nov. 20, the Commodity Futures Trading Commission extended no-action relief for Shanghai Clearing House until the earlier of February 2018 or the date on which SCH receives exemption from registration as a derivatives clearing organization.
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Trading Activity Metrics - December 2017
ALL DATA AS OF SEPT 30, 2017. Data based on the number of contracts traded and/or cleared at 77 exchanges worldwide.
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Vendor Consolidation
On Nov. 28, Sweden's Itiviti and France's Ullink announced plans to merge their technology and market infrastructure businesses.
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Fed Amends CCAR Calculations to Avert Impact on Client Clearing
The Federal Reserve has decided to rescind a technical change in the way it calculates the CCAR stress testing calculations for large banking organizations, a decision that averts a major increase in the amount of capital required for client clearing.
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Japan Proposes New Rules for HFT
On Oct. 24, the Financial Services Agency of Japan released draft regulations and supervisory guidelines to govern "high speed trading" in Japanese markets, as mandated by legislation approved in May.
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Pushback on Fed Proposal
On Oct. 11, FIA and the International Swaps and Derivatives Association sent a letter to the Federal Reserve expressing "deep concerns" with proposed changes to the capital surcharge imposed on U.S. banking organizations that are determined to be "global systemically important banking organizations."
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China Opens Door to More Foreign Investment in Brokerage Industry
On Nov. 10, China’s vice minister of finance Zhu Guangyao announced several steps to further open up China's financial industry to foreign participation.
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Technology-Neutral Regulation
On Nov. 14, five U.S. financial associations including FIA asked the Securities and Exchange Commission to update its broker-dealer electronic retention Rule 17a-4 by eliminating an obsolete recordkeeping requirement known as WORM (write once, read many) that was first put in place more than 20 years ago.
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