Walt Lukken sat down with Mark Calabria at the White House Office of Management and Budget offices in the Eisenhower Executive Office Building. Mark serves as Associate Director at OMB, along with being detailed to the Consumer Financial Protection Bureau and serving as Chief Statistician of the United States in an interim role. They discussed the role OMB plays in setting federal regulations, the Trump administration's efforts to provide regulatory relief, regulating crypto and, given his long career in housing, Mark shared sage advice for those looking to purchase their first home.
CONTINUE READINGFIA has responded to the European Securities and Markets Authority’s Call for Evidence seeking industry input on simplifying regulatory reporting requirements in the European Union. FIA highlights industry concerns with current requirements and provide ways in which the burden on market participants can be reduced without impacting the quality and usability of data used by regulatory authorities for the oversight of systemic risk and the detection of market abuse.
CONTINUE READINGFIA Principal Traders Group advocates for targeted reforms to Regulation NMS, addressing its impact on costs, best execution, venue proliferation and the generation of complex order types. As feared at the time of adoption, these provisions have led to unimaginable increases in cost and complexity as a result of venue and order type proliferation as well as a narrow interpretation of best execution.
CONTINUE READINGThe US Commodity Futures Trading Commission last week withdrew proposed guidance and rulemaking in several areas as it seeks to align with the US administration’s goal of simplifying regulation and reducing burdens on market participants.
CONTINUE READINGThe Senate Banking Committee published its version of proposed legislation on market structure and digital assets and issued a request for information. FIA has responded with its views, including commentary on the role of the CFTC, the importance of market intermediaries, and other topics.
CONTINUE READINGThis is the third final standard published by DMIST, an independent organization formed by FIA in July 2022, to promote greater efficiency across the trading and clearing workflow.
CONTINUE READINGBracewell addresses issues covering CFTC/DOJ prosecution of Commodity Exchange Act Violations for Non-US Conduct and UK and EU developments.
CONTINUE READINGAppointments, promotions and other people news in the derivatives industry
CONTINUE READINGIndia's National Commodity and Derivatives Exchange, the country's largest agricultural commodities trading venue, is gearing up to launch equity and equity derivatives trading on its platform after receiving preliminary approval from the country’s markets regulator this summer. NCDEX is the latest Indian exchange to expand to this asset class.
CONTINUE READINGA perpetual, or perp in industry speak, has no stated expiry date, allowing a party to hold a position until offsetting it to terminate the exposure. They are cash settled trades that provide leveraged exposure to the spot price of an asset, as opposed to providing exposure to a price in the future.
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