US Regulation

CFTC Sets its Sights on High Frequency Trading

The Commodity Futures Trading Commission (CFTC) is beginning to look into regulating high frequency trading over the coming months. CFTC Law: CFTC Sets its Sights on High Frequency Trading.

CFTC Announces Measures to Promote Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading

Facilities and Support an Orderly Transition to Mandatory Trading Washington, DC — The Commodity Futures Trading Commission (Commission) today announced measures to promote trading on swap execution facilities (SEFs) and support an orderly transition to mandatory trading of swaps, which begins for certain interest rate swaps on February 15, 2014.

• CFTC Press Release: CFTC Announces Measures to Promote Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading
• Risk: Packaged Swaps Get Three-Month SEF Reprieve from CFTC
• DerivAlert: CFTC Announces Three-Month Delay  on Mandatory SEF Trading for Packaged Trades
• Regulatory Reform: Packaged Swaps- SEF Delivery Delayed.

Statement of Commissioner Scott D. O'Malia, Measures to Promote Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading

Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading I am pleased that the Commission staff is providing relief until May 15, 2014 from mandatory trading of certain swaps executed as part of a package transaction. CFTC Press Release: Statement of Commissioner Scott D. O'Malia, Measures to Promote Trading on Swap Execution Facilities and Support an Orderly Transition to Mandatory Trading.

U.S. Regulator Tells Banks to Improve Derivatives Data

The U.S. derivatives watchdog on Monday chided the industry for providing gappy data on the $630 trillion market, highlighting a rising concern for regulators around the world. Reuters: U.S. Regulator Tells Banks to Improve Derivatives Data.

Isda and Sifma Blast CFTC Position Limits Rule

Industry groups sceptical of justification for new position limits rule, after suing to block previous version. Risk: Isda and Sifma Blast CFTC Position Limits Rule.

International Regulation

Statement by the CFTC and the European Commission on progress relating to the implementation of the 2013 Path Forward Statement

CFTC Acting Chairman Mark Wetjen and European Commissioner Michel Barnier announce continued progress regarding European Trading Platforms under July 2013's Path Forward Statement.

• CFTC Press Release: Statement by the CFTC and the European Commission on progress relating to the implementation of the 2013 Path Forward Statement
• CFTC Law: CFTC and EU Work Out Cross-Border Trading Agreement
• FT: CFTC Leadership Change Eases Strain.

For Every Action, there is an Equal and Opposite No-Action…

The CFTC's Third Law of Motion was in evidence again yesterday as CFTC Acting Chairman Mark Wetjen and EU Commissioner Michel Barnier announced continued "progress" regarding the treatment of multilateral trading facilities (MTFs), as contemplated under the "Path Forward" statement published in July 2013. Regulatory Reform: For Every Action, there is an Equal and Opposite No-Action…

The OTC Marathon: Will a Rocky Regulatory Start Straighten the Course?

EU and US taxpayers scratched their heads in disbelief this week as the regulators made it painfully clear that they have squandered both years and billions with little to show for it. RegTechFS: The OTC Marathon: Will a Rocky Regulatory Start Straighten the Course?

Australian Dark Pool Rules Shift Liquidity Back to the Lit Market

Decline in broker-dealer dark pool volumes after Asic introduces requirements for price improvement. Risk: Australian Dark Pool Rules Shift Liquidity Back to the Lit Market.