News Centre

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. 

The EBA Consults On Amendments To The Operational Risk Pillar 3 And Supervisory Reporting Requirements To Implement The Basel III Reforms In The EU

Date 20/02/2024

• The EBA is seeking to implement the changes driven by the revised operational risk framework.
• The new data will allow supervisors and users of reporting and disclosure data to monitor institutions’ compliance with the Basel III framework for operational risk and will further foster consistent and enhanced supervision and market discipline.
• The alignment of the disclosure requirements with the Basel III framework and its integration with reporting will promote comparability and consistency of the information.

FTSE UK Index Series – Indicative Quarterly Review Changes March 2024

Date 20/02/2024

FTSE Russell, the global index provider, advises of the following indicative changes to the FTSE 100 and FTSE 250, based on data as of Friday 16th February 2024.