CFTC Chair Rostin Behnam encouraged market participants to continue transition efforts in advance of the June 2023 cessation of USD LIBOR.
LedgerX LLC, d/b/a FTX US Derivatives (FTX), submitted to the CFTC's Division of Clearing and Risk a formal withdrawal of FTX's request to amend FTX's Amended Order of Registration as a derivatives clearing organization. The request would have allowed FTX to offer products that are not fully collateralized.
Comments on an SEC proposal to require members of covered clearing agencies that provide central counterparty services for Treasury securities to centrally clear a significant number of their repo transactions are due by December 22, 2022. The Notice was published in the Federal Register.
CFTC Commissioner Christy Goldsmith Romero decried the unchecked Wall Street's risk-taking that required Treasury bailouts in the past, and she highlighted the need for regulators to reduce "systemic or sub-systemic" risk.