Commodity Futures Trading Commission (CFTC)
FX Invest: Rise of the super-Sefs
The Dodd-Frank Act created a multitude of would-be swap execution facilities (Sefs) – trading platforms that will aggregate dealer liquidity. Now, dealers want to hoover up the Sefs by building their own aggregation services, but it’s a strategy that…
FXCM and SuperDerivatives to launch options platform within days
Deal-X platform will launch with three liquidity providers on July 14, to be followed soon after by SurfacExchange's Surface Wave venture
Buy side urged to avoid stampede to CCPs
Panel participants encourage buy-side firms to engage with CCPs early to avoid a last-minute rush
Esma inclined to follow US FX exemption, says FSA’s Justham
Senior UK regulator emphasises importance of aligning European regulation of FX with US, but says it is not top of Esma's agenda
Trading platforms prepare for Sef arms race
As the CFTC prepares to close the consultation period on its Sef rulemaking next week, it is still unclear exactly what changes FX trading platforms might need to make to comply with the Sef criteria. How are the potential Sefs preparing? Chiara Albanese…
CFTC rulemaking narrows field in repository race
CLS decides not to pitch to become FX repository provider after CFTC rulemaking demands extra granularity and timeliness in data reporting
Retail FX platforms braced for further consolidation
The FDIC last week unveiled proposed margin requirements for retail FX transactions in the US in the latest sign of a clampdown on the retail segment of the industry. How is regulation changing the shape of retail FX? Farah Khalique reports
European Commission ‘unhappy’ with Dodd-Frank extraterritoriality
EC official voices concern at London conference over the long arm of US swaps regulations
Splits emerge in CFTC and SEC swap product definition rules
Agencies largely aligned, but conflicts remain after 10-month negotiation
Spotlight on: Joe Norena and Jacqueline Liau, HSBC
Joe Norena, chief operating officer for FX and metals at HSBC, and Jacqueline Liau, global head of product and services for FX Prime, talk to Farah Khalique about the bank’s plans to offer clearing services for FX products
CPSS-Iosco proposes risk standards for CCPs
Central counterparties should be ready for failure of one or two largest customers, regulators suggest
Afme global FX division calls for restraint on Sefs
Managing director James Kemp explains how Sef rules can be applied without putting the current liquidity and volumes of the FX market in danger
Spotlight on: James Kemp, Afme global FX division
The managing director of the FX market’s new industry body talks to Joel Clark about the challenges of lobbying politicians for appropriate and consistent treatment of FX contracts in US and European legislation
US Fed’s Tarullo stresses importance of robust CCPs
Well-managed central counterparties (CCPs) are key to handling counterparty credit risk, according to Daniel Tarullo, a governor at the Federal Reserve Board in Washington, DC.
Spotlight on: Kay Swinburne, member of the European Parliament
The British MEP speaks exclusively to FX Week about the European Parliament's worrying lack of discussion of the treatment of foreign exchange in derivatives legislation.
Commissioners voice mounting alarm over 'seriously strained' CFTC budget
Concerns over the ability of US federal regulators to enforce new financial reform legislation have intensified, with a senior regulator accusing the head of the Commodity Futures Trading Commission (CFTC) of playing "a game of budgetary chicken" with…
LCH.Clearnet 'shocked' at Dodd-Frank capital requirement
CCP's chief executive speaks out against CFTC ruling at New York conference.
Isda pushes back on CCP ownership caps
US derivatives industry lobbyists are pushing back at proposals by the US government to resurrect and expand the Lynch amendment, which would have imposed limits on dealer ownership of derivatives clearing houses.
CFTC proposal sparks scrap over CCP membership
CFTC proposes a $50 million cap on minimum capital requirements set by CCPs for clearing membership
Icap pilots bank-only block trading platform for manual users
Interdealer broker Icap is today (December 13) beginning the pilot of a bank-only block trading platform for manual users of the EBS workstation, officials at the broker tell FX Week.
Dealer concern over proposed change to client margin segregation
Ice Trust estimates it might have to increase initial margin by 63% to cover risk.
CFTC starts SEF regulation discussions
WASHINGTON, DC - The Commodity Futures Trading Commission’s (CFTC’s) Technical Advisory Committee began to lay the groundwork for rules that will eventually govern swap execution facilities (SEFs) last week (October 12) citing concerns over the new…
Gain acquires CMS retail business as new rules come into force
NEW YORK - Capital Market Services (CMS) has sold its retail forex business to Gain Capital, making it the latest online trading company to exit the market in light of rising costs from increased regulation.