News Centre

Statement Of CFTC Commissioner Kristin N. Johnson Regarding CFTC Charges Against Ceres Global: Protect Farmers’ Ability to Hedge

Date 23/10/2023

Today, the Commodity Futures Trading Commission (CFTC) announced the filing and settlement of charges against Ceres Global Ag Corp. (Ceres). The order finds that in two months in 2016 and 2017, Ceres engaged in a plan whereby it would build very long positions in oats futures—contracts worth close to 3 million bushels, the speculative position limit for oats. Ceres simultaneously bought shipping certificates with the goal of reducing the amount of lower quality oats available in the market.

Statement Of CFTC Commissioner Caroline D. Pham On The Deliberative Process Privilege

Date 23/10/2023

There is a disturbing trend among federal agencies that involves overbroad use of the deliberative process privilege against defendants in enforcement actions, so that relevant facts or final policy or final determinations cannot be used to support a defense against the alleged charges. I am seriously concerned that such attempts to shield the truth from greater scrutiny deprives defendants of due process and a fair hearing. Such basic human rights are the essence of a free and democratic society, and are embodied in the United States Constitution and Bill of Rights. These protections of life, liberty, and property are why the United States of America is a beacon of freedom across the world, and a stalwart defender of the rule of law against authoritarianism and autocracy. It is because of these first principles that I believe that the deliberative process privilege in enforcement actions (unrelated to Freedom of Information Act (FOIA) litigation) is an executive privilege that cannot be delegated by the head of the agency—namely, that the Commission cannot delegate the authority to invoke the deliberative process privilege to agency staff.

Industry Veteran Kevin Wolf Joins American Financial Exchange As Chief Financial Officer

Date 23/10/2023

The American Financial Exchange (AFX), a self-regulated exchange that provides banks and financial institutions a marketplace for overnight unsecured interbank lending and borrowing, today announced that Kevin Wolf, an industry veteran with over 20 years of capital markets experience, has joined the company as its new Chief Financial Officer (CFO). With his extensive background driving growth and profitability for various companies, Wolf brings a wealth of expertise to the AFX team.

Fiserv And Melio Partner To Streamline Accounts Payable And Receivable For Small Businesses - CashFlow Central From Fiserv Will Combine Intuitive Workflows, Market-Leading Payment Capabilities, And The Industry’s Largest Network Of Billers And Merchants

Date 23/10/2023

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, is partnering with Melio, a leading B2B payments platform, to enable financial institutions to better meet the payments needs of small businesses. CashFlow CentralSM from Fiserv, launched through an exclusive relationship with Melio, will combine the easy-to-use accounts payable and receivable workflows for which Melio is known with the market-leading biller and merchant network and payment capabilities of Fiserv.

Statement Of CFTC Commissioner Christy Goldsmith Romero: Protecting Farmers And Families From Artificially Inflated Food Prices

Date 23/10/2023

As I have had the fortune of being able to meet with farmers and agricultural producers, I have heard multiple times how important it is for the CFTC to police the markets against manipulation or anything else that could drive up prices.  If the farmers and food producers are hurt by market abuse, American families are also going to feel it at the grocery store when they try to feed their families.  That is why the CFTC’s mission to promote integrity in these markets is so important.

CFTC Orders Minnesota Grain Merchandiser To Pay $3 Million Penalty For Attempted Manipulation Of Oats Futures Prices

Date 23/10/2023

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Ceres Global Ag Corp., a company based in Golden Valley, Minnesota, for attempting to manipulate the price of the July 2016 and March 2017 oats futures contracts.

CFTC Commissioner Mersinger To Keynote At The S&P Global Commodity Insights Nodal Trader Conference

Date 23/10/2023

Euronext Clearing Introduces An Innovative VaR-Based Margin Methodology For Italian Equities, ETF And Financial Derivatives Markets

Date 23/10/2023

Euronext Clearing, Euronext's multi-asset clearing house, today announced the introduction of a new VaR-based margin methodology on the Euronext Milan equities, ETF and financial derivatives markets. As a reminder, the VaR-based margin methodology was already made available in 2022 for Italian, Portuguese, Spanish, and Irish government bonds on MTS and BrokerTec cash and repo platforms.

BIS - Bank Competition, Cost Of Credit And Economic Activity: Evidence From Brazil

Date 23/10/2023

The banking sector plays a central role in economy and it is often highly concentrated: in many countries, the share of assets held by the five largest banks is around 80%. Moreover, in the last decade the degree of market concentration has increased. Despite the importance of banks and of bank competition, understanding of the effects of bank competition on the real economy is still limited. A key reason is that the degree of bank competition depends on market conditions.

Stakeholder Outreach On Financial Resources And Tools For Central Counterparty (CCP) Resolution

Date 23/10/2023

Join the FSB’s stakeholder outreach event on financial resources and tools for CCP resolution, which will be held virtually on Wednesday 8 November 13:00 - 15:00 (CET).