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The Four Levels of Financial Regulation
Financial regulators use many techniques to carry out their responsibilities.
CONTINUE READINGTesting Blockchain
Euroclear, one of the world's leading settlement houses, is pressing ahead with plans to introduce blockchain-backed gold products, with the goal of delivering reduced counterparty risk, lower capital requirements and increased operational efficiencies.
CONTINUE READINGStandardized 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.
CONTINUE READINGShorter 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.
CONTINUE READINGRulebook Revamp
The Japan Securities Clearing Corporation has implemented several changes to its clearing rules for listed derivatives to enhance its clearing services and to introduce practices adopted by other major global clearinghouses.
CONTINUE READINGRule 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.
CONTINUE READINGProject 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.”
CONTINUE READINGPorting Problems
Customers may not be able to find a new home for their cleared derivatives if their clearing member goes into default, several industry participants warned the Commodity Futures Trading Commission at an April 25 meeting of the CFTC’s Market Risk Advisory Committee.
CONTINUE READINGPeople - June 2017
The Hong Kong government reappointed Ashley Alder as chief executive officer of the Securities and Futures Commission for another three-year term effective from Oct. 1.
CONTINUE READINGNeither 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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