News Centre

CFTC Charges Denari Capital, LLC And Its Owners With $8.3 Million Forex Fraud

Date 05/11/2019

The U.S. Commodity Futures Trading Commission today announced the filing of a complaint in the U.S. District Court for the Northern District of California, charging defendants Travis Capson of Utah, Arnab Sarkar of California, and their California-based company, Denari Capital, LLC, with fraudulently soliciting more than $8.3 million from at least 28 participants. The participants’ funds were commingled in a pooled investment scheme that included leveraged or margined off-exchange foreign currency (forex). The complaint also charges defendants with registration violations and charges Capson with making false statements to the National Futures Association (NFA), the industrywide, self-regulatory organization for the U.S. derivatives industry.

FIA: October 2019 SEF Tracker

Date 05/11/2019

CFTC Unanimously Approves Proposed Rule, Acts On 3 Foreign Board Of Trade Registration Applications At November 5 Open Meeting

Date 05/11/2019

At the U.S. Commodity Futures Trading Commission’s open meeting today, the CFTC unanimously approved a proposed rule, approved applications for registration orders for three European exchanges, and held a charter signing ceremony for the agency’s new Veterans Affinity Group.

Statement On Shareholder Rights, SEC Commissioner Allison Herren Lee, Nov. 5, 2019

Date 05/11/2019

There is a common theme that unites the two proposals before us today: they both would operate to suppress the exercise of shareholder rights. 

Statement Of CFTC Commissioner Dawn D. Stump Regarding Foreign Board Of Trade Registration Applications Of Euronext Amsterdam, Euronext Paris, And European Energy Exchange

Date 05/11/2019

I am pleased to support the Orders of Registration before us today that will allow three foreign boards of trade (“FBOTs”) to permit identified members or other participants located in the United States (“U.S. Participants”) to enter trades directly into the FBOTs’ order entry and trade matching systems (a practice referred to as “direct access”).  Upon approval by the Commission, these three FBOTs would join 18 others that are currently registered under the CFTC’s FBOT registration rules.  I also am pleased to have this opportunity to discuss a successful, yet often overlooked, aspect of the CFTC’s regulatory program that reflects the principles that I believe should govern our approach – and that of our regulatory counterparts around the world – to the regulation of all market infrastructure providers. 

SEC Proposes Amendments To Modernize Shareholder Proposal Rule

Date 05/11/2019

The Securities and Exchange Commission today voted to propose amendments to modernize the rule that governs the process for shareholder proposals to be included in a company’s proxy statement.

Nodal Exchange Achieves Record Trading Volume And Open Interest In Both Power And Environmental Futures With Strongest Month Ever

Date 05/11/2019

Nodal Exchange achieved a new monthly trading record in monthly power futures with a total volume of 231 million MWh in October 2019 (notional value of $7.5 billion per side) and a 44% market share of traded volume.  This represents an 84% growth rate over October 2018 and the 15th consecutive month of record calendar month trading volume in power futures.  Nodal Exchange continues to improve its strong position in the North American monthly power futures markets achieving a record 44% market share of open interest as of October 31, 2019.

Statement Of CFTC Commissioner Dan M. Berkovitz On The Commission’s Orders Of Registration For The European Energy Exchange, Euronext Amsterdam, And Euronext Paris

Date 05/11/2019

I support the Commission’s Orders of Registration to permit the European Energy Exchange (“EEX”), Euronext Amsterdam N.V., and Euronext Paris SA to offer direct access to their members and market participants in the United States.[1]  Section 4(b) of the Commodity Exchange Act (“CEA”) and part 48 of the Commission’s regulations require a determination that the foreign board of trade (“FBOT”) and its clearing organization are subject to comparable and comprehensive regulation in their home jurisdictions.  FBOT registration is subject to conditions specified in the Commission’s rules, and to any additional terms and conditions set forth in the Order of Registration.[2]  Once registered, an FBOT can offer its products directly into the U.S. market without having to register as a designated contract market, and without having to clear through a registered derivatives clearing organization.  These valuable commercial benefits are a direct result of the Commission’s ability to rely on the comparable and comprehensive regulation of overseas exchanges and clearing organizations in their home countries.

Intercontinental Exchange Reports October Statistics: Futures And Options Open Interest Up 8% Y/Y And Up 17% From Year-End 2018

Date 05/11/2019

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today reported October trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at http://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.

SEC Proposes Rule Amendments To Improve Accuracy And Transparency Of Proxy Voting Advice

Date 05/11/2019

The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy solicitations to enhance the quality of the disclosure about material conflicts of interest that proxy voting advice businesses provide their clients. The proposal would also provide an opportunity for a period of review and feedback through which companies and other soliciting parties would be able to identify errors in the proxy voting advice. The review and feedback period would only be available to companies that file definitive proxy materials 25 days or more in advance of the relevant meeting. The Commission’s proposal aims to enhance the accuracy and transparency of the information that proxy voting advice businesses provide to investors and others who vote on investors’ behalf, and thereby facilitate their ability to make informed voting decisions.