US lawmakers questioned experts in the derivatives industry on May 12 about the recent proposal from FTX US Derivatives to clear margined products using a non-intermediated model. The hearing conducted by the US House of Representatives Committee on Agriculture was titled "Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models," and featured testimony from FIA President and CEO Walt Lukken.
CONTINUE READINGWalt Lukken, President and CEO of FIA, recently sat down with the SmarterMarkets team to kick off its next podcast series, "Systems at Risk."
CONTINUE READINGThis issue reflects the fact that, after all the analysis, debate and raft of consultation papers, legislation has arrived/is arriving and market participants need to respond.
CONTINUE READINGTrading volume on swap execution facilities reached $878.6 billion in average notional value per day during June 2022. This was down 5.7% from the previous month but up 1.4% from the same month of the previous year. Trading was down in every sector except for FX and non-FRA trading.
CONTINUE READINGThis document supports and seeks to provide more detailed guidance on the implementation of, amongst other things, the ‘Guidelines on systems and controls in an automated trading environment’ (ESMA Guidelines).
CONTINUE READINGFIA hosted Commissioner Kristin N. Johnson of the US Commodity Futures Trading Commission for a "lunch and learn" conversation with high school students on 2 August as part of the Greenwood Project's outreach to young people interested in pursuing careers in financial services.
CONTINUE READINGChair Debbie Stabenow (D-MI) of the Senate Agriculture Committee and Ranking Member John Boozman (R-AR) introduced the Digital Commodities Consumer Protection Act of 2022 last week. This much-anticipated legislation would give the Commodity Futures Trading Commission (CFTC) new tools and authorities to regulate the cash digital asset commodity market while leaving the regulation of digital assets that are deemed securities to the US Securities and Exchange Commission (SEC).
CONTINUE READINGToday, FIA released a comprehensive guide to the development and operation of automated trading systems.
CONTINUE READINGAppointments, promotions and other people news in the derivatives industry
CONTINUE READINGCustomers continued to hold a very large amount of funds in futures accounts at US FCMs in June. The total amount of customer funds in futures accounts at US FCMs reached $357.7 billion in June, up 19.4% over the last 12 months.
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