News Centre

CFTC Staff Extends No-Action Relief From The Execution Requirement For Swaps In Certain Types Of Package Transactions

Date 09/10/2020

The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission today extended no-action relief for swaps executed as part of a package transaction in the categories described below. This extension will enable DMO to continue to assess the appropriate response for applying the trade execution requirement to swaps in certain types of package transactions. This no-action relief will expire on the earlier of: (i) 11:59 pm (EDT) November 15, 2022, or (ii) the applicable effective date or compliance date of a CFTC action, including without limitation a rulemaking or order, that provides a permanent solution.

Nadex Refrains From Listing Certain Contracts

Date 09/10/2020

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: 

• No EUR/JPY, GBP/JPY, GBP/USD or USD/CAD 5-Minute contracts were listed for the 6:05pm ET expiration time on trade date October 5, 2020.

• No GBP/JPY, GBP/USD or USD/CAD 5-Minute contracts were listed for the 6:05pm ET expiration time on trade date October 6, 2020. Additionally, no GBP/JPY or GBP/USD 5 Minute contracts were listed for the 6:10pm ET expiration on this day.

• No EUR/JPY, EUR/USD, GBP/JPY 5-Minute contracts were listed for the 6:05pm ET or 6:10pm ET expiration times on trade date October 8, 2020. Additionally, no GBP/USD 5 Minute contracts were listed for the 6:10pm ET expiration on this day.

• No GBP/JPY or GBP/USD 5-Minute contracts were listed for the 6:05pm ET or 6:10pm ET expiration times on trade date October 9, 2020.

Office Of The Comptroller Of The Currency: Bank Secrecy Act/Anti-Money Laundering: Revised Order Granting Exemption From Customer Identification Program Requirements For Premium Finance Lending

Date 09/10/2020

Summary

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies), with the concurrence of the Financial Crimes Enforcement Network (FinCEN), today issued a revised order granting an exemption from the requirements of the customer identification program rules implementing section 326 of the USA PATRIOT Act for certain loans. The affected loans are those extended by banks1 and their subsidiaries under the jurisdiction of the agencies to customers to facilitate purchases of property and casualty insurance policies referred to as insurance premium finance lending or premium finance loans. This revised order extends the customer identification program exemption for premium finance loans to all customers of banks.

Updated: CFTC And The Office Of Financial Research Sign Memorandum Of Understanding To Allow Information Sharing

Date 09/10/2020

Commodity Futures Trading Commission Chairman Heath P. Tarbert and the Office of Financial Research (OFR) Director Dino Falaschetti today signed a Memorandum of Understanding that establishes a framework for the CFTC to share with OFR information and data reported on Form CPO-PQR, which is filed with the CFTC by CFTC-registered commodity pool operators (CPOs). The MOU also confirms both agencies’ commitment to working together to fulfill their statutory and regulatory mandates.

Nadex Temporarily Amends Binary Contracts Strike Width

Date 09/10/2020

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 volatility 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 October 5, 2020 as indicated in the Weekly Notice. 

NYSE Group Consolidated Short Interest Report

Date 09/10/2020

NYSE today reported short interest as of the close of business on the settlement date of September 30, 2020

Nasdaq Announces End-Of-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date September 30, 2020

Date 09/10/2020

At the end of the settlement date of September 30, 2020, short interest in 2,499 Nasdaq Global Market^SM securities totaled 8,379,625,495 shares compared with 8,187,114,108 shares in 2,466 Global Market issues reported for the prior settlement date of September 15, 2020. The end-of-September short interest represent 2.83 days average daily Nasdaq Global Market share volume for the reporting period, compared with 2.97 days for the prior reporting period.

CFTC: Federal Court Orders Pennsylvania Man And His Companies To Pay More Than $1.2 Million In Forex Trading Scheme

Date 09/10/2020

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Eastern District of Pennsylvania entered an order of default judgment finding that Michael Salerno of Chadds Ford, Pennsylvania, and his companies Black Diamond Forex LP, BDF Trading LP, and Advanta FX, fraudulently solicited members of the public to become foreign currency (forex) traders. The defendants are required to pay more than $1.2 million.  

MIAX Options: Last Priority In Allocation Available To Initiating Members That Submit cPRIME Agency Orders

Date 09/10/2020

MIAX Options Members will allow Initiating Members that submit cPRIME Agency Orders to select last priority in allocation beginning January 11, 2021.
 

Exclusion Of cPRIME Orders From The Complex MIAX Options Price Collar Protection

Date 09/10/2020

MIAX Options will exclude cPRIME orders from the Complex MIAX Options Price Collar (“MPC”) Protection beginning January 11, 2021.