In a joint submission to the CFTC and the SEC, the Chicago Mercantile Exchange Inc. and the Fixed Income Clearing Corporation proposed an amended and restated Cross-Margining Agreement between the clearing agencies.
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The Committee on Payments and Market Infrastructures and IOSCO recommended practices that central counterparties might consider in "the development of, and improvements to, default management auction rules, governance arrangements" and related procedures.
SIFMA, IIB, ISDA, and FIA recommended changes to CFTC-proposed cross-border regulations concerning registration thresholds and certain requirements applicable to swap dealers and major swap participants.
The CFTC voted to (i) approve a final rule amending regulations governing derivatives clearing organizations, (ii) propose a prohibition on "post-trade name give-up" at swap execution facilities and (iii) propose new cross-border rules governing registration requirements applicable to swap dealers and major swap participants.
Trade associations commented on central counterparty default management issues raised by the Committee on Payments and Market Infrastructures and IOSCO.