The FIA released its December 2023 data on customer funds held at US FCMs.
News & Insights
The SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
The SEC proposed replacing an exemption for certain clearing agencies and dual registrant broker-dealers concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.
The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
The CFTC Division of Clearing and Risk issued an Interpretive Letter clarifying that variation margin for cleared swap positions constitutes the daily settlement of exposure and not collateral under the Commodity Exchange Act.