The European Securities and Market Authority is working with the European Commission to plan "preparatory actions for the recognition process of UK [central counterparty clearing houses]" in the event of a "no-deal" situation.
The CFTC Market Risk Advisory Committee approved final recommendations by the Central Counterparty Risk Management Subcommittee on how central counterparties can enhance their efforts to prepare for the default of significant clearing members.
The CFTC issued an agenda for the upcoming Market Risk Advisory Committee public meeting. The CFTC will focus on recommendations concerning central counterparties in the event of a default by a clearing member.
The CFTC Market Risk Advisory Committee will hold a public meeting to examine (i) final recommendations from the CCP Risk Management Subcommittee on how central counterparties can enhance their efforts to prepare for the default of a significant clearing member, and (ii) the Bank of England's coordinated central counterparty default fire drill.
The CFTC and the UK Financial Conduct Authority signed a Memorandum of Understanding addressing cooperation and supervision over certain regulated firms that operate on a cross-border basis in the United States and the United Kingdom.
The CFTC simultaneously filed and settled charges against two banking institutions for "executing fictitious and noncompetitive block trades in Russian Ruble/U.S. Dollar futures contracts, which were cleared through the Chicago Mercantile Exchange."