The Basel Committee on Banking Supervision released a consultative document in August on the implications of fintech for the financial sector. The report assessed how technology-driven innovation in financial services may affect both the banking industry and its supervisors, and asks for feedback on "10 key observations" about the fintech trend and related recommendations for banks and bank supervisors. The report included three case studies focused on technology developments (big data, distributed ledger technology, and cloud computing) and three on fintech business models (innovative payment services, lending platforms and neo-banks). The report also described some of the ways in which bank supervisors have responded to fintech, including the formation of accelerators and sandboxes.
CONTINUE READINGALL DATA AS OF SEPT 30, 2017. Data based on the number of contracts traded and/or cleared at 77 exchanges worldwide.
CONTINUE READINGPhotos from FIA's 43rd annual conference at the Boca Raton Resort & Club from March 13 to March 16, 2018. FIA welcomed more than 1,100 attendees to this high profile annual gathering which examined the progress made since the financial crisis in 2008, explored the current environment for the cleared derivatives industry, discussed opportunities to reset some regulations and helped map out our path forward to more secure, healthy and robust financial markets.
CONTINUE READINGOn July 12, the Commodity Futures Trading Commission hosted a meeting of its Market Risk Advisory Committee in Washington, D.C. to discuss the transition from the Libor benchmark used in U.S. dollar-based interest rate markets to a more robust alternative known as the Secured Overnight Funding Rate or SOFR, and the implications of this multi-year transition for derivatives markets.
CONTINUE READINGThe Commodity Futures Trading Commission moved one step closer to having a full slate of commissioners on July 24, when the Senate Agriculture Committee held a hearing to review the nomination of Daniel Berkovitz, a derivatives lawyer who served as the CFTC's general counsel from 2009 to 2013.
CONTINUE READINGPhotos from FIA's 11th annual International Derivatives Expo conference in London from June 4 to 6, 2018. FIA held sessions covering a broad mix of topics and strategic issues in the cleared derivatives industry, from the fintech developments in all parts of the value chain to the direct impact of MiFID II.
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