News Centre

Statement Of Commissioner Dawn D. Stump For CFTC Open Meeting, October 16, 2019 - Extending Compliance Schedule For Phase 5 Of The Margin Rule For Uncleared Swaps

Date 16/10/2019

Regarding the exchange of initial margin (IM) for non-centrally cleared derivatives, now is a good time to step back and reflect on the past implementation phases and to explore in more detail the issues faced by market participants who have, or will in a future phase, become subject to the requirement.  This exercise is important, in my view, in order to understand whether there are actions that we, as regulators, can take to mitigate the potential compliance bottleneck that will be caused by an unprecedented number of market participants coming into scope in the last implementation phase.

EBA Launches Consultation On Guidelines On The Application Of The Structural FX Provision

Date 16/10/2019

The European Banking Authority (EBA) launched today a consultation on draft Guidelines on the application of the Structural FX provision. These Guidelines aim at setting a regulatory framework on Structural FX to address the observed diversity in its application across the EU. In particular, the guidelines identify criteria to assist Competent Authorities in their assessment of the structural nature of a foreign-exchange position and whether such position has been deliberately taken for hedging the capital ratio. The consultation runs until 17 January 2020.

Statement Of Concurrence By CFTC Commissioner Rostin Behnam - Margin Requirements For Uncleared Swaps For Swap Dealers And Major Swap Participants (Notice Of Proposed Rulemaking)

Date 16/10/2019

I respectfully concur with the Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) decision today to issue proposed amendments to its regulations that would align the implementation schedule for margin requirements for uncleared swaps applicable to swap dealers (“SDs”) and major swap participants (“MSPs”) for which there is no prudential regulator with the recently revised schedule issued by the Basel Committee on Banking Supervision (“BCBS”) and the International Organization of Securities Commissions (“IOSCO”).[1]  This proposal is also consistent with a recently proposed joint rulemaking by the Prudential Regulators that would similarly amend the margin implementation schedule for SDs and MSPs subject to their regulations.

EBA Consults On Supervisory Reporting Changes Related To CRR2 And Backstop Regulation (Framework 3.0)

Date 16/10/2019

The European Banking Authority (EBA) launched today a public consultation on revised Implementing Technical Standards (ITS) on supervisory reporting, which aim to keep the reporting requirements in line with changes in the regulatory framework and with the evolving needs for Supervisory Authorities' risk assessments.

Opening Statement Of CFTC Chairman Heath P. Tarbert Before The Open Commission Meeting On October 16, 2019

Date 16/10/2019

Good morning, and thank you for attending today’s open meeting of the U.S. Commodity Futures Trading Commission (“CFTC”).  We have two important items on the agenda: (1) a proposed rule to extend the compliance date for phase five of the CFTC’s margin rule for uncleared swaps (“Margin Rule”), and (2) a proposed rule regarding the application of the Margin Rule to the European Stability Mechanism (“ESM”).

EEX Extends Power Derivatives Offering For Various European Market Areas

Date 16/10/2019

The European Energy Exchange (EEX) will expand its product range with new short term Power Futures for the Austrian market area (EEX Phelix-AT Futures) as of 2nd December 2019. In addition, EEX extends the number of tradable quarterly maturities for French, Italian and Spanish Power Futures.

BME: MARF Registers First Green Bond Programme By Grenergy

Date 16/10/2019

• For a maximum amount of 50 million euros
• The company diversifies its long-term financing sources to access investors with ESG management criteria

LCH Expands Deliverable FX Offering

Date 16/10/2019

• FX forwards now available for clearing at LCH; first CCP to clear the product
• Utilises settlement model developed in collaboration with CLS
• ForexClear expansion builds on existing clearing service for FX non-deliverable forwards and deliverable options

ACTIV Financial Releases Pure Software Ticker Plant - New Platform Leverages High-Speed CPUs To Drive Down Costs And Management Resource

Date 16/10/2019

ACTIV Financial has launched a software-only implementation of its award-winning ticker plant and content management platform, which capitalizes on advances in CPU technology and kernel-bypass networking to meet or exceed performance previously associated with hardware acceleration. This landmark achievement comes at a time of increased data message rates amid spiraling exchange data costs; and is the latest in a series of technological advances ACTIV Financial has made to address the rapid growth in electronic trading, market volatility, and pace of technological innovation.

Swiss Ambassador Rings Tehran Stock Exchange Opening Bell

Date 16/10/2019

The ambassador of Switzerland in Iran joined Tehran Stock Exchange’s CEO in the Trading floor for opening bell ceremony.