The incoming Trump administration will have clean slates as far as regulating U.S. securities and commodities markets as Rostin Behnam, chairman of the U.S. Commodity Futures Trading Commission (CFTC), announced on January 7 that he will be stepping down from his position on January 20 with his final day being Friday, February 7. Behnam was… Read More >>
CFTC Mulls Ops Changes for Non-Cash Collateral
The Commodity Futures Trading Commission (CFTC) is mulling recommendations that would not need to become rules but would lead to operational changes governing the use of non-cash collateral for margin requirements and might pave the way for more clarity in the regulation of digital assets for U.S. markets. The CFTC permits using non-cash assets as… Read More >>
ION Launches Connectivity to FMX Futures Exchange
Trading and operations systems provider ION has launched connectivity to the recently launched FMX Futures Exchange. The connectivity will allow firms to trade via ION’s execution and post-trade product suite, officials say. ION will support transactions via the new futures exchange through ION’s “cleared derivatives front-, middle-, and back-office platforms.” ION’s offerings for cleared derivatives… Read More >>
SS&C Acquires Battea Class Action Services for $670M
SS&C Technologies is acquiring Battea-Class Action Services, a securities class action claims management and settlement recovery services provider for $670 million, subject to certain adjustments, officials say. “Battea helps more than 900 banks, asset managers hedge funds and proprietary trading firms receive the maximum distribution of entitled settlements. The acquisition is expected to close this… Read More >>
Events Exchange Kalshi Klear Wins DCO Approval
Kalshi Klear LLC, a regulated exchange and prediction market, is a new derivatives clearing organization (DCO) via an order of registration from the Commodity Futures Trading Commission (CFTC). CFTC officials say Kalshi has demonstrated its ability to comply with the Commodity Exchange Act (CEA) and CFTC regulations that apply to DCOs. Kalshi’s affiliate, KalshiEx LLC,… Read More >>
ProCap Readies Custody for 3 Digital Asset Securities
With the addition of Uniswap (UNI) and Arbitrum (ARB) to its custodial platform, Prometheum Ember Capital will offer custodian support for three digital asset securities, as the firm previously announced custody services for Ethereum’s ether (ETH) token. Prometheum Capital officials say the firm intends to fully launch its custodial services to institutional investors later this… Read More >>
Derivatives Document Negotiations Need More Automation
After conducting a survey on document negotiation, the International Swaps and Derivatives Association (ISDA) is making a strong case for more digitization of derivatives documentation. ISDA officials are also arguing that firms use ISDA Create, an online platform for negotiating, producing, and executing derivatives documentation. This includes the ISDA Master Agreements, variation margin credit support… Read More >>
Should the GAO Audit the CFTC?
Caroline D. Pham, a Commodity Futures Trading Commission (CFTC) commissioner, started the Open Meeting on May 10 with a bang — she wants the U.S. Government Accountability Office (GAO) to investigate the CFTC because she thinks the regulator has expanded its jurisdiction without a proper mandate, and, as a consequence, has strayed far from its… Read More >>
CFTC Launches New Era for Large Trading Reporting
The Commodity Futures Trading Commission (CFTC) has approved final rules to amend its large trading reporting regulations for futures and options to modernize the position reporting system and align it with other CFTC reporting structures Unless there is a major setback in its acceptance, a revamped system of collecting information on a trader’s entire position… Read More >>
Can A.I. Advance Automation in Commodities Trading?
Can technologies based upon artificial intelligence (A.I.) help squeeze out the manual processes that can clog the plumbing of commodity trading and risk management (CTRM) solutions? Quor Group, a provider of CTRM solutions, and ClearDox LLC, a commodities solutions provider that leverages A.I., think it can be done and have begun a collaboration. They are… Read More >>
