Commentary by Steven Lofchie
CFTC Commissioner Rostin Behnam identified four key reform priorities: mandatory clearing, exchange trading of standardized swaps, swap data reporting, and capital and margin requirements for non-centrally cleared swaps.
The CFTC Division of Market Oversight extended time-limited no-action relief to swap execution facilities from the requirement that a swap block trade must occur "away" from a trading system or platform.
A Chicago-based futures commission merchant and its affiliate agreed to pay a civil monetary penalty to settle CFTC charges for executing illegal "exchange for related position" transactions.
In November, FINRA will distribute to select firms a targeted exam letter on order routing conflicts.
A Norway-based energy company agreed to pay a civil monetary penalty to settle CFTC charges of attempting to manipulate a propane benchmark in order to benefit certain physical and financial positions.