News Centre

Statement Of CFTC Commissioner Kristin N. Johnson: Ensuring The Integrity Of Customer Protections For Customers Of U.S. Introducing Brokers With Direct Access To Foreign Boards Of Trade

Date 20/02/2024

The Commodity Futures Trading Commission’s (Commission or CFTC) governing statute, the Commodity Exchange Act (CEA), enumerates several key aims. Protecting customers from the misuse of customer assets is one of the central goals of derivatives market regulations. Protecting customers begins with carefully evaluating, reviewing, monitoring, and enforcing the regulations that govern intermediaries in our markets.

Statement Of CFTC Commissioner Kristin N. Johnson Regarding Regulations To Establish Margin Adequacy Requirements And Addressing Separate Account Treatment

Date 20/02/2024

The Commodity Futures Trading Commission (Commission or CFTC) has adopted several key regulations that establish guardrails to protect against the misuse or misapplication of customer funds. The Commodity Exchange Act (CEA) and Commission regulations establish critical protections for customers to help prevent them from losing money as a result of losses caused by their futures commission merchant (FCM) or their fellow customers at the FCM. These include Sections 4 and 4d of the CEA and Parts 1, 22, and 30 of the Commission regulations, which require an FCM to segregate its own funds from those of its customers and prohibit an FCM from using one customer’s funds to cover the losses of another.

Statement Of CFTC Chairman Rostin Behnam In Support Of The Proposed Requirements For Designated Contract Markets And Swap Execution Facilities Regarding Governance And The Mitigation Of Conflicts Of Interest Impacting Market Regulation

Date 20/02/2024

I support the proposed rules for designated contract markets (DCMs) and swap execution facilities (SEFs) that would establish governance and fitness requirements with respect to market regulation functions and related conflict of interest standards.  Today’s action continues my commitment to ensure that conflicts of interest are appropriately mitigated, and that SEF and DCM governing bodies adequately incorporate an independent perspective.  Advancements in technology, coupled with demand for ever greater efficiency and speed, are pushing markets and market structure in new directions.  This new disruption raises new and novel policy issues in all aspects of markets, including conflicts of interest.  Today is just one step towards addressing potential and existing conflicts of interest in CFTC markets, to ensure markets remain strong, resilient, and transparent. 

Statement Of CFTC Chairman Rostin Behnam In Support Of Proposed Amendments To CFTC Regulations For Foreign Boards Of Trade

Date 20/02/2024

I support the proposed amendments to CFTC rules for foreign boards of trade (FBOTs) that would permit a registered FBOT to provide direct access to its electronic trading and order matching system to a registered introducing broker (IB) located in the United States for submission of customer orders to the FBOT’s trading system for execution.  Based upon more than ten years of Commission experience with the existing rules for FBOTs, the Commission is also proposing certain enhancements and modernization of the existing ruleset.

CFTC Approves Proposed Rules And Other Commission Business

Date 20/02/2024

The Commodity Futures Trading Commission announced today it approved the following matters:

Proposed Rule: Regulations to Address Margin Adequacy and to Account for the Treatment of Separate Accounts by Futures Commission Merchants

FTSE Mondo Visione Exchange Index Down 2.7% In January

Date 20/02/2024

The new year kicked off much like the previous one, with escalating geopolitical tensions and ongoing concerns about interest rates and inflation. The broad spectrum of geopolitical challenges and impending elections in various countries added to the complexity.

CFTC Extends Comment Period For Proposed Rule On Operational Resilience Framework

Date 20/02/2024

The Commodity Futures Trading Commission today announced it is extending the public comment period for a proposed rule requiring an Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants. The deadline is extended to April 1, 2024.

Statement Of CFTC Commissioner Caroline D. Pham On DCM And SEF Conflicts Of Interest Proposal

Date 20/02/2024

I am voting to publish the Notice of Proposed Rulemaking on Requirements for Designated Contract Markets (DCMs) and Swap Execution Facilities (SEFs) Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions (DCM and SEF Conflicts of Interest Proposal or NPRM) because the public must have an opportunity to weigh in on these important issues that raise serious concerns. I would like to thank Lillian Cardona, Jennifer Tveiten-Rifman, Marilee Dahlman, Swati Shah, and Rachel Berdansky in the Division of Market Oversight for their time and efforts, and I take this opportunity to recognize the importance of their rule enforcement reviews program for DCMs and SEFs. I appreciate the staff working with me to make revisions to address my concerns. Unfortunately, while the NPRM has been improved, it is far from perfect.

JonesTrading Rapidly Deploys FlexOMS To Power Its Sell-Side Trading Desks - The Solution Is Live, In Record Time, For JonesTrading’s Equities, Electronic Trading And Outsourced Trading Business Units

Date 20/02/2024

FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, and JonesTrading, a leading global equity brokerage & capital markets firm today announced the successful deployment of FlexOMS as the new sell-side trading platform for its equities and electronic trading businesses. The solution will also be the full-service technology platform for JonesTrading’s growing outsourced trading offering.  

Consumer Duty: The Art Of The Possible In A Year - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At KPMG

Date 20/02/2024

Highlights

• Firms have made solid progress in many areas of the Consumer Duty and the clock is now ticking for closed products and services to comply. 
• We are ready to work with industry on meeting the closed product deadline and urge firms to prioritise areas where there is the greatest risk of consumer harm. 
• Today we are also publishing our small firms survey and our good and bad practice guide to help firms on their Consumer Duty journey.