The Commodity Futures Trading Commission (CFTC) has received inquiries from derivatives clearing organizations (DCO) or potential DCO applicants seeking to offer clearing of margined products directly to participants, such that participants would not clear through a futures commission merchant intermediary (non-intermediated model).
Today, @cftc extends the public comment period by 30 days on the FTX request for an amended DCO registration order. Let us hear from you. https://t.co/5d4M5lz1Tg
— Rostin Behnam (@CFTCbehnam) March 24, 2022
Currently before the CFTC is a formal request from LedgerX, LLC d.b.a. FTX US Derivatives (FTX) to amend its order of registration as a DCO to allow it to modify its existing non-intermediated model. FTX currently operates a non-intermediated model and clears futures and options on futures contracts on a fully collateralized basis. In its request for an amended order of registration, FTX proposes to clear margined products for retail participants while continuing with a non-intermediated model.
The CFTC is seeking public comment on FTX’s request, including both on specific questions and policy issues raised by use of a non-intermediated model in this manner. The questions are available here.
CFTC recommends potential commenters to review FTX documents at this link as you are considering your comments. Comments may be submitted electronically through the CFTC’s Comments Online process. All comments received will be posted on the CFTC website. Comments should be submitted on or before April 11, 2022.
Source: CFTC
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
https://www.marketsmedia.com/as-technology-evolves-asset-managers-adapt-and-innovate/
Citi Changes Organizational Structure
https://www.marketsmedia.com/citi-changes-organizational-structure/
SEC Charges Virtu for Disclosures Relating to Information Barriers
https://www.marketsmedia.com/sec-charges-virtu-for-disclosures-relating-to-information-barriers/
ICE Futures Singapore Partners with CoinDesk Indices
https://www.marketsmedia.com/ice-futures-singapore-partners-with-coindesk-indices/
Related articles
-
This will help launch the UK's first regulated & centrally cleared digital asset derivatives trading venue.
-
Fixed Income Clearing Corporation processed a series of record volumes last week.
-
Certain U.S. Treasury ETFs may qualify as initial and variation margin collateral for uncleared swaps.
-
R.J. O’Brien is the oldest futures brokerage in the United States, founded in 1914.
-
A new CEO for Eurex Clearing will be announced soon following the departure of Erik Müller.