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Concurring Statement Of CFTC Commissioner Caroline D. Pham On Joint Data Standards Proposal

Date 08/08/2024

I respectfully concur from the Notice of Proposed Rulemaking on the Financial Data Transparency Act (FDTA) Joint Data Standards (“Joint Data Standards Proposal”) to require each respective agency to implement certain data standards for its regulated entities because there is insufficient discussion of the impact and costs associated with the adoption of these new data standards that will apply across the banking and financial services sector (including small entities as set forth under the Regulatory Flexibility Act).  While I support the FDTA’s mandate, I believe the Joint Data Standards Proposal would be improved by addressing head-on the elephant in the room—the very real costs that will be imposed on potentially tens of thousands of firms of all sizes that will eventually have to update their systems and records to adhere to the new data standards. I encourage all commenters to address the costs and benefits of the Joint Data Standards Proposal, including the necessary future agency rulemakings that will subsequently follow. I thank Ted Kaouk, Tom Guerin, Jeffrey Burns, and the staff of the CFTC, and all the other agencies for their efforts on this proposal.

CFTC Approves A Joint Rule Proposal To Establish Technical Data Reporting Standards

Date 08/08/2024

The Commodity Futures Trading Commission today voted to jointly propose and request public comment on the establishment of technical data reporting standards with other financial regulatory agencies. The proposal would establish uniform data standards for the collections of information reported to the CFTC, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Consumer Financial Protection Bureau, Federal Housing Finance Agency, Securities and Exchange Commission, and the Department of the Treasury. The proposal would also establish uniform data standards for data collected from these financial regulatory agencies on behalf of the Financial Stability Oversight Council.

TMX Group Equity Financing Statistics – July 2024

Date 08/08/2024

TMX Group today announced its financing activity on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for July 2024.

CFTC Awards Over $1 Million To Whistleblower Who Aided A Digital Assets-Related Investigation

Date 08/08/2024

The Commodity Futures Trading Commission today announced a whistleblower award of over $1 million to a whistleblower who provided significant information and assistance that led the CFTC to bring an enforcement action connected to digital asset markets. 

ISDA derivatiViews: Getting To Grips With Treasury Clearing

Date 08/08/2024

When it comes to the Securities and Exchange Commission’s (SEC) US Treasury reforms, one thing is very clear: there’s an awful lot to do and not a lot of time to do it. From the development of documentation to the recalibration of certain capital rules, there’s an enormous laundry list of tasks that needs to be worked through – something that will require time and a collective effort from the entire industry.

Statement Of CFTC Commissioner Kristin N. Johnson: Prioritizing Customer Protection And Combatting Fraud By FTX And Alameda

Date 08/08/2024

Introduction

Today, in a historic judgment with a $12.7 billion settlement, the Commodity Futures Trading Commission (Commission or CFTC) announced the entry of a consent order in its litigation against FTX Trading Ltd. (FTX) and Alameda Research LLC (Alameda). Today’s announcement sends a clear message regarding the Commission’s intent to hold fraudsters accountable. The consent order, entered by Judge P. Kevin Castel of the United States District Court for the Southern District of New York, resolves the CFTC’s litigation against FTX and Alameda filed on December 13, 2022.[1] The amended complaint charged defendants with two counts of fraud and material misrepresentations in connection with the sale of digital assets and alleged that defendants’ actions caused the loss of billions of dollars in FTX customer deposits.

CFTC Obtains $12.7 Billion Judgment Against FTX And Alameda - Restitution And Disgorgement Damages To Pay Fraud Victims

Date 08/08/2024

The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order of permanent injunction and other equitable relief against FTX Trading Ltd. and Alameda Research LLC (together, FTX) and ordered FTX to pay $12.7 billion in monetary relief to FTX customers and victims of FTX’s fraud. The order requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement, which will be used to further compensate victims for losses suffered as a result of the massive fraudulent scheme orchestrated by Samuel Bankman-Fried, his now-bankrupt FTX group of companies, and a core group of FTX insiders. [See CFTC Press Release Nos. 8638-22, 8644-22, 8669-23]. 

Nodal Exchange Environmental Markets Grew 231% In July Setting A New Monthly Trading Record

Date 08/08/2024

Nodal Exchange today announced a new monthly volume record for environmental markets with 64,562 lots traded of futures and options, surpassing the prior record by 25% set in May 2024 of 51,747 lots on Nodal Exchange. The traded volume in July 2024 was up 231% from July 2023. The product suite also posted an all-time high in open interest of 376,548 lots during July. With more than 41,000 lots physically delivered, open interest ended the month at 339,261 lots, up 40% from 242,344 lots from a year earlier.

CME Group Declares Quarterly Dividend

Date 08/08/2024

CME Group Inc., the world's leading derivatives marketplace, today declared a third-quarter dividend of $1.15 per share. The dividend is payable September 25, 2024, to shareholders of record as of September 9, 2024.

Adventure Lists On Euronext Growth Milan

Date 08/08/2024

• 15th listing of 2024 on Euronext Growth Milan

• 33rd listing on Euronext in 2024

• The company raised €4 million

• Market capitalisation at IPO is €14 million