DCM

SEFs+DCMs=MTFs+OTFs

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The transatlantic trading platform cousins have officially been recognised as twins, on 5 November the European Commission announced its long-promised equivalence decision in respect of U.S. swap execution facilities. The CFTC plans to reciprocate by exempting MTFs and OTFs from U.S. registration requirements. The mutual recognition comes just in time before the 3 January 2018 […]

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Key takeaways from the CFTC’s proposed rules on automated trading

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On 24 November 2015, the US Commodity Futures Trading Commission (CFTC) unanimously approved a notice of proposed rulemaking addressing several issues related to automated trading.  These proposed rules have been collectively termed ‘Regulation Automated Trading’ or ‘Regulation AT’. Regulation AT has been designed to reduce the likelihood of automated trading disruptions and potential risks and

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Package Transactions Updated

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Package Transactions Updated

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As noted in a previously blog post, a common way to execute derivatives transactions involves including multiple legs as a single transaction.  These package transactions all have common elements such that the transaction has two or more legs that are executed simultaneously.

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Reconsidering SEF Rules: Methods of Execution and Block Trades

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This is the first in line of a series of articles on the swaps reform specifically relating to the points made in the “Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank” white paper.

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Reconsidering SEF Rules: Methods of Execution and Block Trades

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This is the first in line of a series of articles on the swaps reform specifically relating to the points made in the “Pro-Reform Reconsideration of the CFTC Swaps Trading Rules: Return to Dodd-Frank” white paper.

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CFTC’s Giancarlo issues manifesto for Agency Civil War

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J. Christopher Giancarlo has made his views of the Agency’s previous work very clear- he hates it in detail, spitting his dummy so far out that it may well be irretrievable. The Republican CFTC Commissioner, speaking from his ex-practitioner’s podium, has issued a nine page broadside against the regulator’s implementation of Dodd-Frank’s essentially benign intentions. […]

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Cross-Margining: The next big thing or bust?

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Costs of a derivatives transaction
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Cross-Margining: The next big thing or bust?

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Costs of a derivatives transaction
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What is the CFTC?

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I have talked a lot in the past about this organization called the Commodity Futures Trading Commission (“CFTC”).
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