Events listed in Commodity Exchange Act
CFTC Staff Extends Temporary No-Action Letter Regarding Certain Financial Reporting ...
ID 24166
The U.S. Commodity Futures Trading Commission (CFTC) has published a press release to announce that its Market Participants Division (MPD) has extended previously granted no-action relief to bank swap dealers (SDs) with respect to certain financial reporting requirements and filing deadlines. The extended relief measures are a consequence of the regulatory reporting requirements of the CFTC that took effect on October 6, 2021, but ...
CFTC Announces Trade Execution Requirement for Certain SOFR and SONIA OIS
ID 24087
The U.S. Commodity Futures Trading Commission, CFTC, has issued a press release in which it announces the approval of a so-called made-available-to-trade (MAT) determination for several classes of overnight index swaps. This determination subjects affected securities to swap execution requirements on a swap execution facility (SEF) or designated contract market (DCM), preventing any such swaps from being traded bilaterally between counterparties. The affected instruments ...
CFTC Staff Releases Request for Comment on the Impact of Affiliations of Certain ...
ID 23926
The staff of the Divisions of Market Oversight, Clearing and Risk, and Market Participants at the Commodity Futures Trading Commission (CFTC) have issued a request for comment to gather insights into potential issues arising from affiliations between CFTC-registered entities and market participants. This request focuses on the affiliations between derivatives clearing organizations (DCOs), designated contract markets (DCMs), or swap execution facilities (SEFs) with intermedia ...
Notice of Proposed Order and Request for Comment on an Application for a Capital ...
ID 23899
The U.S. Commodity and Futures Trading Commission, CFTC, has published in the Federal Register a Notice of Proposed Order and Request for Comment on an application for a capital and financial reporting comparability determination“ for certain non-bank swap dealers (SDs) which was submitted by the International Swaps and Derivatives Association (ISDA), the Securities Industry and Financial Markets Association (SIFMA), and the *Institute of International ...
CFTC Approves Cboe Clear Digital, LLC to Clear Margined Digital Asset Futures
ID 23573
The U.S. Commodity Futures Trading Commission (CFTC) has published a press statement to announce that it has given its approval for Cboe Clear Digital, LLC to expand its services as a derivatives clearing organization (DCO) under the Commodity Exchange Act. In its corresponding Amendment Order, the CFTC states that **Cboe Clear Digital, LLC will be permitted to „provide clearing services for digital asset futures ...
CFTC Seeks Public Comment on the Risk Management Program Requirements for Swap ...
ID 23508
The Commodity Futures Trading Commission, CFTC, has announced an upcoming so-called advanced notice of proposed rulemaking (ANPRM) as regards risk management requirements of swap dealers (SDs) and future commission merchants (FCMs) many of which are major Wall Street banks or prudentially-regulated institutions. **The ANPRM calls for public input and feedback on various aspects of the current risk management rules and regulations for SDs and ...
CFTC Staff Issues an Advisory Related to Prime Brokerage Arrangements and ...
ID 23291
On May 17, 2023, the U.S. Commodity Futures Trading Commission (CFTC) published a press statement to inform that its Division of Clearing and Risk (DCR) has issued an advisory (CFTC Letter No. 23-06) which is addressed at firms engaged in prime brokerage activities that „provide credit substitution on a centralized basis“. Therein, the Division urges such firms, particularly swap execution facilities (SEFs), to check ...
CFTC Grants RTX Fintech & Research LLC Registration as a Swap Execution ...
ID 22902
The U.S. Commodity Futures Trading Commission (CFTC) has published a press statement to announce that it has approved the registration of RTX Fintech & Research LLC as a Swap Execution Facility (RTX SEF). The approval is set out in a corresponding order. Following the fulfillment of all the requirements set out in the order, the limited liability company which is based in Delaware and ...
CFTC Staff Issues No-Action Letter Regarding the Migration of Credit Default Swaps ...
ID 22579
In view of the discontinuations of credit default swap (CDS) clearing services by ICE Clear Europe Ltd. (ICEU) in October 2023, the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) has issued a no action relief letter (23-05) for affected counterparties of open CDS positions at ICEU. This no-action relief will permit market participants to transfer their open positions to other central ...
CFTC Statement on Swaps Rules Implicated in Recent Bank Failures
ID 22314
On March 16, 2023, the U.S. Commodity Futures Trading Commission (CFTC) published a press statement as regards the application of swap rules and requirements concerning swaps „impacted by the failures of Silicon Valley Bank and Signature Bank“. In its statement, the CFTC notes that it will refrain from enforcing any swap (trading) requirements (e.g. margin or clearing requirements) on swaps that have been ordered ...