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Nadex Temporarily Amends Binary Contracts Strike Width

Date 13/08/2022

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and Section 40.6(d) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) hereby provides notice that due to increased or decreased volatility, as the case may be, in the underlying markets upon which the Nadex contracts are based, Nadex made changes to the strike widths of various contracts during the week of August 8, 2022 as indicated in the Weekly Notice.
Nadex Refrains From Listing Certain Contracts

Date 13/08/2022

Due to activity in the underlying markets upon which the Nadex contracts are based and pursuant to the authority granted in Nadex Rule 12.1(i), Nadex took the following actions:
Statement By US Secretary Of The Treasury Janet L. Yellen On The Passage Of The Inflation Reduction Act Of 2022

Date 13/08/2022

Secretary of the Treasury Janet L. Yellen released the following statement on the final passage of the Inflation Reduction Act of 2022.
Statement On Amendments To Auditing Standards Governing The Planning And Supervision Of Audits Involving Other Auditors And Dividing Responsibility For The Audit With Another Accounting Firm, SEC Commissioner Mark T. Uyeda, Aug. 12, 2022

Date 12/08/2022

Today’s amendments to the auditing standards on the supervision of audits involving other auditors demonstrate a thoughtful and thoroughly considered approach to rulemaking. These amendments culminate a multi-year effort to ensure that stakeholders had opportunities to provide feedback to the Public Company Accounting Oversight Board as it considered and refined the amendments before finalization.
CFTC Commitments Of Traders Reports Update

Date 12/08/2022

The current reports for the week of August 09, 2022 are now available.

Concurring Statement Of CFTC Commissioner Caroline D. Pham Regarding LIBOR Transition Clearing Requirement Determination For Certain Interest Rate Swaps

Date 12/08/2022

I respectfully concur with the final rule updating the CFTC’s interest rate swap clearing requirement regulations. Pursuant to the Commodity Exchange Act (CEA) and the Commission’s regulations, subject to Commission determination, certain interest rate swaps are required to be submitted for clearing to a derivatives clearing organization (DCO) registered under the CEA or a DCO exempted from registration under the CEA. The final rule updates this set of interest rate swaps required to be cleared in light of the global transition from reliance on certain interbank offered rates (IBORs) such as the London Interbank Offered Rate (LIBOR), to alternative reference rates, which are predominantly overnight, nearly risk-free reference rates (RFRs). This rulemaking is an essential part of that transition. I commend the CFTC staff for their work here, as well as for their leadership in a historic global effort by the CFTC alongside other regulators, international bodies such as IOSCO and FSB, cross-jurisdictional working groups, financial market infrastructures, swap dealers, other market participants, and more, to reform the global interest rate swap market and benchmarks.
Statement Of CFTC Commissioner Christy Goldsmith Romero Regarding The Clearing Requirement For Swaps Referencing Rates Less Susceptible To Manipulation Than LIBOR

Date 12/08/2022

I support the Commission’s amended clearing requirement for swaps referencing rates less susceptible to manipulation than the London Interbank Offered Rate (“LIBOR”) because it promotes market integrity and supports the risk-mitigating benefits of central clearing. I thank the CFTC staff for their work on this and other efforts to support the transition away from LIBOR.
Statement Of CFTC Commissioner Kristin N. Johnson Regarding The Final Rule To Modify Interest Rate Swap Clearing Requirements For The Transition From LIBOR And Other IBORs To Alternative Reference Rates

Date 12/08/2022

In the fall of 2008, global financial markets reeled as evidence emerged indicating that market participants failed to effectively manage risks in the then-unregulated $400 trillion (notional) swaps market. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) directed the Commodity Futures Trading Commission (Commission) to develop and implement formal rules, and bring the swaps market under the ambit of the Commission’s authority. The Commission introduced clearing requirements, a vital regulatory tool that has increased transparency and promoted market integrity.
CFTC Issues Final Rule Modifying the Swap Clearing Requirement In Support of the Transition from LIBOR and Other Interbank Offered Rates to Alternative Reference Rates

Date 12/08/2022

The Commodity Futures Trading Commission today announced that it issued a final rule modifying the Commission’s interest rate swap clearing requirement under part 50 of the CFTC’s regulations. The final rule removes the requirement to clear interest rate swaps referencing the London Interbank Offered Rate (LIBOR) and certain other interbank offered rates and replaces them with requirements to clear interest rate swaps referencing overnight, nearly risk-free reference rates. The final rule updates the swaps required to be submitted for clearing to a derivatives clearing organization (DCO) or an exempt DCO and the compliance dates for such swaps.
Canadian Securities Regulators To Host Roundtable On The Proposed Derivatives Business Conduct Rule

Date 12/08/2022

The Canadian Securities Administrators (CSA) today announced it will host a virtual roundtable on the proposed derivatives business conduct rule, the CSA’s next step towards modernizing the regulatory framework for the OTC derivatives market in Canada. The roundtable will be held on September 28, 2022 from 10:00 a.m. – 12:00 p.m. ET.