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  • Statement On Final Rules Regarding Clearing Agency Governance, SEC Chair Gary Gensler, Nov. 16, 2023

    Date 16/11/2023

    Today, the Commission adopted final rules relating to the governance and use of outside service providers by clearinghouses. I am pleased to support this adoption because it helps foster more resilient clearinghouses.

  • Statement On Clearing Agency Governance And Conflicts Of Interest, SEC Commissioner Mark T. Uyeda, Nov. 16, 2023

    Date 16/11/2023

    The Commission has adopted a new rule under the Securities Exchange Act of 1934 to establish governance standards for registered clearing agencies. The rule also requires registered clearing agencies to take specified measures to mitigate or eliminate conflicts of interest. Clearing agencies play a central role in the securities markets and – unlike other entities registered with the Commission, such as broker-dealers and investment advisers – are not easily substitutable. Given the broad general support for the rule in the public comments and because the Commission has incorporated various recommendations submitted by commenters, I voted in favor of the final rule.

  • SEC Adopts Rules To Improve Clearing Agency Governance And Mitigate Conflicts Of Interest

    Date 16/11/2023

    The Securities and Exchange Commission has adopted new rules to improve the governance of all registered clearing agencies by reducing the likelihood that conflicts of interest may influence their boards of directors or equivalent governing bodies.

  • Nadex Self-Certifies AVAX Cryptocurrency Touch Bracket Contracts

    Date 16/11/2023

    Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and Section 40.2(a) 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”), Nadex self-certified the terms and conditions for its new AVAX Cryptocurrency Touch Bracket Contracts. These contracts will be listed on or after trade date November 20, 2023.

  • ISDA: Additional Thoughts On Margin Practices

    Date 16/11/2023

    The International Swaps and Derivatives Association (ISDA), together with the Institute of International Finance (IIF) responded last year to the consultative paper on margin practices (the Response). Back then there were some issues that we acknowledged but could not develop further in the time available.