News Centre

Statement Of CFTC Chairman Timothy Massad On The Trade Options Final Rule

Date 16/03/2016

Today, the CFTC has taken another important step to address the concerns of commercial end-users who rely on the derivatives markets to hedge risk—and who, we should always remember, did not cause the financial crisis. Trade options are a type of commodity option primarily used in the agricultural, energy and manufacturing sectors. Today, the Commission has finalized some amendments to its rules that recognize trade options are different from the swaps that are the focus of the Dodd-Frank reforms. These changes will reduce the burdens on these commercial businesses and allow them to better address commercial risk.

EBRD Launches SME Local Currency Programme

Date 16/03/2016

Armenia has become the first country to sign a Memorandum of Understanding with the European Bank for Reconstruction and Development (EBRD) to become eligible for lending to local small and medium-sized enterprises (SMEs) in local currency.

Concurring Statement Of CFTC Commissioner Bowen On The Trade Options Final Rule

Date 16/03/2016

Our ruling today provides additional clarity for trade options, but I encourage market participants to look at it closely.

Moscow Exchange: Risk Parameters Change From March 23, 2016

Date 16/03/2016

Risk Parameters for the following Securities market instruments will be changed starting from March 23, 2016:

CFTC Approves Final Rule To Amend The Trade Option Exemption By Eliminating Certain Reporting And Recordkeeping Requirements For End-Users

Date 16/03/2016

The U.S. Commodity Futures Trading Commission (CFTC) today approved a final rule that removes reporting and recordkeeping requirements for trade option counterparties that are neither swap dealers nor major swap participants (Non-SD/MSPs), including commercial end-users that transact in trade options in connection with their businesses. The unanimous vote was conducted via seriatim. The Final Rule will become effective upon publication in the Federal Register.

Remarks By Counselor Antonio Weiss, U.S. Treasury Department, At The U.S. Chamber Of Commerce Capital Markets Summit

Date 16/03/2016

Thank you J.J. for that kind introduction.  And thank you to the Chamber’s Center for Capital Markets Competitiveness for inviting me and for hosting this event.

Statement Of CFTC Commissioner J. Christopher Giancarlo Comparability Determination For The European Union: Dually-Registered Derivatives Clearing Organizations And Central Counterparties

Date 16/03/2016

I support the comparability determinations issued by the Commodity Futures Trading Commission (CFTC).

Today’s action furthers the commitment to a common approach for transatlantic central clearing counterparties (CCPs) announced on February 10, 2016 by my colleague, CFTC Chairman Timothy Massad, and Commissioner Jonathan Hill of the European Commission (EC). Under the comparability determinations, CCPs that are authorized in the European Union (EU) under the European Market Infrastructure Regulation (EMIR) and registered with the CFTC may comply with certain CFTC requirements for financial resources, risk management, settlement procedures, and default rules and procedures by complying with corresponding requirements under the EMIR framework. Today’s notice also provides for a streamlined approach for EU CCPs that may wish to register with the CFTC in the future.

Ukrainian National Securities And Stock Market Commission Endorses SWIFT’s ISO 20022 Harmonisation Charter - Ukraine Seeks Integration Into International Securities Markets Through Adoption Of ISO 20022.

Date 16/03/2016

The Ukrainian National Securities and Stock Market Commission (NSSMC), the financial authority in the Ukraine, has formally endorsed the ‘ISO 20022 Harmonisation Charter’.

Statement Of CFTC Chairman Timothy Massad Regarding Substituted Compliance Determination For The European Union

Date 16/03/2016

Today, the CFTC has taken action to implement our agreement with the European Commission regarding requirements for central clearing counterparties (CCPs). Our unanimous action today means that European CCPs registered with the CFTC can comply with many of our rules by meeting the corresponding European Market Infrastructure Regulation (EMIR) requirements.

CFTC Approves Substituted Compliance Framework In Follow-Up To The Recent Equivalence Agreement Between The US And The EU - Division Staff Simultaneously Provides Relief For DCOs/CCCPs From Certain CFTC Regulations

Date 16/03/2016

The U.S. Commodity Futures Trading Commission (CFTC) today unanimously approved a substituted compliance framework for dually-registered central counterparties (CCPs) located in the European Union (EU), together with a comparability determination with respect to certain EU rules. Today’s action follows the historic agreement between the CFTC and the European Commission regarding dually-registered derivatives clearing organizations (DCOs)/CCPs and represents a major step in paving the way for the EU’s recognition of U.S. CCPs. [See CFTC-EU Common Approach]