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Testimony Of CFTC Chairman Timothy Massad Before The U.S. House Appropriations Committee, Subcommittee On Agriculture, Rural Development, Food And Drug Administration And Related Agencies

Date 10/02/2016

Thank you Chairman Aderholt, Ranking Member Farr and members of this Subcommittee. I am pleased to testify regarding the President’s fiscal year (FY) 2017 budget request for the Commodity Futures Trading Commission (CFTC).

CME Group Announces WTI Light Sweet Crude Oil Futures Volume Record, Surpassing 1.6 Million Contracts - RBOB Gasoline Futures Open Interest Also Reaches New Record

Date 10/02/2016

CME Group, the world's leading and most diverse derivatives marketplace, today announced it reached a trading volume record for WTI Light Sweet Crude Oil futures yesterday, February 9, 2016, of 1,603,771 contracts compared to the previous record of 1,595,710 contracts on December 8, 2015. 

SEC Adopts Cross-Border Security-Based Swap Rules Regarding Activity In The U.S. - Rules Provide Increased Transparency And Enhanced Oversight - SEC Finalizes Rulemaking In Security-Based Swap Dealing Activity

Date 10/02/2016

The Securities and Exchange Commission today voted to adopt rules that require a non-U.S. company that uses personnel located in a U.S. branch or office to arrange, negotiate, or execute a security-based swap transaction in connection with its dealing activity to include that transaction in determining whether it is required to register as a security-based swap dealer.  The rules, adopted under by the Dodd-Frank Wall Street Reform and Consumer Protection Act, would help ensure that both U.S. and foreign dealers are subject to Title VII of the Act when they engage in security-based swap dealing activity in the United States.  

ICE Clear Canada Receives Third-Country Central Counterparty Recognition Under EMIR

Date 10/02/2016

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced today that ICE Clear Canada has been recognized as a third-country central counterparty (CCP) in accordance with the European Market Infrastructure Regulation (EMIR).

BATS Global Markets Reports Year-On-Year Market Share Gains; Becomes #1 Listing Venue For January With 85% Of U.S. ETF Listings - Market Share Rises For U.S. and Europe Equities, U.S. Options - Hotspot ADV Up 27% From December

Date 10/02/2016

BATS Global Markets (BATS) today reported January data.  Highlights include market share increases for its U.S. Equities, U.S. Options, and European Equities businesses compared with a year ago, with record average daily notional value traded of €14.0 billion for its European Equities business.

MIAX Options: CMTA Transactions Subject To ORF

Date 10/02/2016

Please be advised, MIAX is making a modification to the implementation of the calculation of the Options Regulatory Fee (ORF) to account for the ORF indicator for CMTA transfers as described in the attached OCC memo.  This change will take effect as of February 1, 2016.  The rate and amount of ORF collected by the MIAX will remain unchanged.

Statement At Open Meeting On Final Rules Regarding Application Of Title VII Dealer De Minimis Requirements To Security-Based Swap Dealing Activity In The United States, SEC Commissioner Kara M. Stein, Feb. 10, 2016

Date 10/02/2016

I too would like to thank the staff for their work in bringing this recommendation to the Commission, including Brian Bussey, Carol McGee, Richard Gabbert, Margaret Rubin, Hari Phatak), Charles Lin, Lori Price, Robert Bagnall, and Mykaila DeLesDernier.

FIA Welcomes US-EU Accord On CCP Equivalence

Date 10/02/2016

FIA today issued the following statement from FIA President and CEO Walt Lukken regarding the joint announcement by European Commissioner Jonathan Hill and CFTC Chairman Tim Massad that they have agreed on a "common approach" to the regulation of clearinghouses in the U.S. and Europe.

“FIA welcomes the much-anticipated announcement of a common approach to equivalent recognition of CCPs between the U.S. and Europe and congratulates Chairman Massad and Commissioner Hill on resolving this critical issue. This will ensure that the outstanding concern of equivalence will be resolved ahead of the start of the mandatory clearing obligation in Europe in June, and brings to an end a period of uncertainty for market participants and infrastructures as they seek to meet new regulatory requirements."

Statement At Open Meeting On Final Rules Regarding Application Of Title VII Dealer De Minimis Requirements To Security-Based Swap Dealing Activity In The United States, SEC Commissioner Michael S. Piwowar, Feb. 10, 2016

Date 10/02/2016

I am pleased to support today’s rulemaking, and I want to join my fellow Commissioners in commending the staff for their excellent work. 

This release represents the third time the Commission has addressed the question of how the security-based swap dealer definition in Title VII of the Dodd-Frank Act applies to the U.S. activities of non-U.S. dealers.  In this case, I think we can truly say that the third time is the charm.

EU And NATO Increase Information Sharing On Cyber Incidents

Date 10/02/2016

Today, the European Union and NATO signed a Technical Arrangement between the NATO Computer Incident Response Capability (NCIRC) and the Computer Emergency Response Team – European Union (CERT-EU).