MarketVoice News
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Stress Test Guidance
On June 28, the Committee on Payments and Market Infrastructure and the International Organization of Securities Commissions released for public comment a framework to help regulators design and run supervisory stress tests for central counterparties.
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CCP Recovery and Resolution
European policymakers are working on legislation that will establish a framework for central counterparty recovery and resolution in the European Union.
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Swap Trading
Tim Massad, chairman of the Commodity Futures Trading Commission, gave several speeches in April on the need to adjust the CFTC's rules for swap execution facilities
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Asia Partnership
Deutsche Börse has added market data from the Taiwan Futures Exchange to its offering, making it possible for its customers to incorporate Taifex data into their systems.
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Trading in 3D
Traders have always thought in terms of tides, waves and cliffs. Soon they will be able to actually see them in the markets.
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Trading in 3D
Traders have always thought in terms of tides, waves and cliffs. Soon they will be able to actually see them in the markets.
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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. In March it announced that it is working with Natixis, a French bank, and IBM to develop a platform that will digitize crude oil trades, and said the new system will offer "improved transparency, enhanced security and optimized efficiency. The system is hosted on IBM's cloud platform, Bluemix, and is built on an open source network called Hyperledger Fabric.
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Standardized Stress Testing for CCPs
In the paper “Stress This House,” LCH proposed a stress testing regime for central counterparties that would enable members to draw meaningful comparisons among CCPs, regardless of the variations due to product portfolio, margin models, confidence levels, default fund structure, assessments levels, etc.
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Expanded Access to Commodity Derivatives
The Securities and Exchange Board of India announced it will issue unified licenses to brokers and clearing members to transact in both commodity derivative and equity markets. This follows the merger of the Forward Markets Commission, which regulates commodity markets in India, and SEBI in September 2015. Previously, separate legal entities were required for the different businesses. Additionally, SEBI proposed to permit hedge funds to invest in commodity derivatives and said it will soon permit exchanges to offer commodity derivative options.
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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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