Attached please find the updated Foreign Listed Stock Index Futures and Options Approvals Chart, current as of January 21, 2025. All prior versions are superseded and should be discarded. Please note the following...more
In 2014, the Joint Audit Committee issued a Regulatory Alert insisting that futures commission merchant (FCM) clearing members treat separate accounts of the same beneficial owner as a single account for purposes of US...more
The CME has issued a revised Market Regulation Advisory Notice on Supervisory Responsibilities for Employees and Agents that includes a new “FAQ Related to Supervisory Responsibilities” (the “MRAN”). CME market participants –...more
Part 17 of the CFTC’s regulations require futures commission merchants, clearing members of registered derivatives clearing organizations, and foreign brokers holding omnibus accounts with such FCM clearing members to submit...more
Attached please find the updated Foreign Listed Stock Index Futures and Options Approvals Chart, current as of December 19, 2023. All prior versions are superseded and should be discarded. Please note the following...more
The Commodity Futures Trading Commission (CFTC) has proposed to lessen a blanket restriction on the investment of customer funds in all non-United States sovereign debt instruments that was imposed on future commission...more
As US interest rates rose in 2022, the value of bank investments in long-dated and fixed-rate bonds declined. These declines were substantial enough to render many banks economically insolvent. Depositors not inclined to...more
The CFTC has proposed rules codifying the staff no-action relief of CFTC Letter 19-17 (thrice-renewed since, pending these rules). I’ve written about the “long and winding road” by which we got to this momentous juncture;...more
Recently the CFTC settled an administrative proceeding with an FCM that FCM risk managers will want to examine closely.
The settlement relates to allegations (among others) that the FCM violated CFTC Rules 1.11 and...more
With some frequency, Katten attorneys field questions from clients about exchange rules on off-exchange execution of futures and options on futures. This Advisory provides a high-level overview on this topic in connection...more