Mondo Visione Worldwide Financial Markets Intelligence
Track all markets on TradingView

FTSE Mondo Visione Exchanges Index:

News Centre

BT_Radianz_468x60_Jul23

  • Supporting Statement Of CFTC Commissioner Brian Quintenz Regarding Exemption From Derivatives Clearing Organization Registration Final Rule

    Date 18/11/2020

    I support today’s final rule to codify the CFTC’s existing practice of exempting non-U.S. derivatives clearing organizations (DCOs) from registration, pursuant to a provision of the Commodity Exchange Act that allows for U.S. swap market participants to access comparably regulated foreign DCOs. That provision authorizes the Commission to defer to its counterparts abroad, which I believe properly conserves the Commission’s resources and enables firms to avoid duplicative regulation, while providing U.S. market participants with greater choice.  I am proud that today’s final rule provides yet another example of the CFTC deferring to foreign regulators that provide comparable regulation and supervision.  During my tenure as a Commissioner, the CFTC has properly provided such deference in many areas, including swap dealer (SD) registration, uncleared swap margin requirements, swap execution facilities (SEFs), registered DCOs,  and foreign futures.  Like these other actions, today’s final rule holds exempt DCO to a high regulatory standard.  Under the final rule, a DCO is only eligible for an exemption if its home country regulator ensures the clearinghouse complies with rules consistent with the internationally accepted “Principles for Financial Market Infrastructures” (PFMIs) issued by CPMI-IOSCO.  Moreover, the exempt DCO must regularly provide the CFTC with margin information concerning U.S. clearing members, among other key information.

  • Statement Of CFTC Chairman Heath P. Tarbert In Support Of Foreign Clearinghouse Registration Exemption Framework

    Date 18/11/2020

    We are voting to approve a rule proposed in 2018 that codifies existing staff guidance by which the CFTC exempts derivatives clearing organizations (DCOs) from registration for the clearing of swaps. Pursuant to that guidance, we have exempted four clearinghouses that we determined are subject to “comparable, comprehensive supervision and regulation” by the clearing organization’s home country regulator. Codifying this framework through a notice-and-comment rulemaking is, frankly, good government.  And doing so is in keeping with my recent directive on the use of staff letters and guidance, in which I noted that staff guidance and letters should supplement rulemakings, rather than themselves function as rules. This approach has many benefits, including providing increased transparency.  It also furthers our strategic objective of enhancing the regulatory experience for market participants at home and abroad.



  • Supporting Statement Of CFTC Commissioner Brian Quintenz Regarding Swap Execution Facility Requirements

    Date 18/11/2020

    I support today’s final rule that codifies through rulemaking two issues concerning swap execution facilities (SEFs) currently addressed in staff no-action letters.  I am pleased that this final rule will provide market participants with much needed regulatory certainty in the areas of “package transactions” (a series of related transactions sometimes including non-swap components) and the correction of erroneous trades.  With the benefit of six-plus years of implementation experience, and multiple extensions of each of these no-action letters, it is long overdue for the Commission to codify and clarify its policy on each of these important issues.

  • Statement Of CFTC Commissioner Dan M. Berkovitz On Codification Of Certain Swap Execution Facility Requirements; Final Rule

    Date 18/11/2020

    I support today’s final rule to amend parts 36 and 37 of the Commission’s regulations relating to the execution of package transactions and correction of error trades on swap execution facilities (SEFs).  The final rule will further, in a flexible and cost-effective manner, the Congressional goal of promoting the trading of swaps on SEFs.

  • Statement Of CFTC Chairman Heath P. Tarbert In Support Of Final Rule On Swap Execution Facilities

    Date 18/11/2020

    I am pleased to support today’s final rule amending Part 36 and Part 37 of the CFTC’s regulations relating to swaps.  These amendments codify staff no-action letters in two areas: (1) package transactions and (2) error trades.



Confinity_sky1-min.gif BT_Radianz_120x600_Jul23.jpg