MarketVoice News
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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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Leverage Ratio Rethink
Two influential regulatory officials have indicated that they share the widespread concerns within the derivatives industry regarding the impact of Basel III capital requirements on clearing firms.
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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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Neither a Borrower Nor a Lender Be: On CCPs and Banks
A central counterparty, viewed from an economic perspective, is a “commitment mechanism.” The ultimate function of a CCP is to assure performance of contract obligations between its members. They do so by becoming substituted counterparties to all trades submitted for clearing—becoming, in effect “the buyer to every seller and the seller to every buyer”—thereby ensuring the performance of open contracts.
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Insight: FIA's Roadmap to Smarter Regulation and Healthier Markets
We’ve all heard the saying, “Work smarter, not harder.” Nearly a decade since the financial crisis, we are finally getting a chance to put this adage into practice.
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EMIR Review
On May 4, the European Commission published a legislative text proposing changes to the European Market Infrastructure Regulation.
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Competition in Clearing
On March 29, the European Commission issued a statement prohibiting the proposed merger between Deutsche Börse and London Stock Exchange Group.
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Build Your Own Algo
Two fintech startups, QuantConnect and Quantopian, have extended their trading solutions into the futures markets, providing users with easy-to-access tools to build their own automated futures trading strategies.
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Insight: FIA's Roadmap to Smarter Regulation and Healthier Markets
We’ve all heard the saying, “Work smarter, not harder.” Nearly a decade since the financial crisis, we are finally getting a chance to put this adage into practice. In May, FIA published our response to President Trump’s call to review U.S. financial reform rules in the form of a whitepaper outlining specific policy recommendations for improving the U.S. regulatory framework.
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Best Practices in Customer Margin Standards
The derivatives industry has played a key role in allowing market participants to safely and efficiently manage their risks during normal market conditions and stress events for over 100 years
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