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Regulatory Tsunami or Just a Washout?

The last two weeks have been a bit of a rollercoaster for US regulatory reform, with President Barack Obama signing an executive order this week that may see the current Dodd Frank requirements scaled back dramatically in order to ensure there is the “right balance” to foster economic growth going forward. On the individual regulator…

NFA in the Frame to Take Over Derivatives Registration from the CFTC, But What of Regulatory Follow up?

Last week, Reference Data Review noted that the Commodity Futures Trading Commission (CFTC) is contemplating ceding control over data registration requirements to another body, namely industry group the National Futures Association (NFA). The result of such an action, which itself is being driven by the regulator’s funding woes, could mean that power and influence is back in…

CFTC Meeting Highlights Funding Concerns, Might the Foot be Taken Off the Data Standards Pedal?

It may have appeared to be business as usual during the Commodity Futures Trading Commission’s (CFTC) ninth meeting on the Dodd Frank rulemaking this week, with position limits and swaps documentation requirements up for discussion, but comments by staffers indicate that pressing concerns about funding persist and may hold back key data standardisation initiatives. One…

Regulatory Pressure is Compelling Investment in Data Quality, Says Bank of America Merrill Lynch’s Dalglish

Regulatory pressure is compelling firms to plough investment into their data infrastructures in order to be able to ensure the consistency of the basic reference data underlying their businesses, according to Tom Dalglish, director and chief information architect at Bank Of America Merrill Lynch. Developments such as the Office of Financial Research also represent the…

Odds On?

The more people I speak to, the more cynical I get about the future of the US Office of Financial Research. It seems that some are even close to running a book on how long it will be before the government backs away from the idea, given the changing political dynamics on Capitol Hill. In…

Industry Has Until 22 February to Respond to CFTC’s Legal Entity Identification Proposals for the Swaps Market

Following on from the series of roundtables last year conducted by the US Commodity Futures Trading Commission (CFTC) to examine the data standardisation challenges underlying the provisions contained within the Dodd-Frank Wall Street Reform and Consumer Protection Act, the regulator has published a set of proposals in the Federal Register regarding the identification of counterparties…

Trading Places

The poaching of industry execs by the regulators has been a frequent occurrence over the course of this year and, if recent comments made by the Commodity Futures Trading Commission’s (CFTC) Scott O’Malia are anything to go by, a data management exec is soon to be poached to become the chief data officer (CDO) of…

The Need for Speed – More Than Just Bullock?

US Futures Commodity Trading Commissioner Bart Chilton offered a broad assessment of the high frequency trading landscape at the recent High Frequency Trading World USA 2010 Conference in New York. His entertaining speech, transcribed here, offers great insight and raises a number of poignant questions about the future of high-speed market access: Introduction Today, I’m…

The OFR Should Leverage Existing Regulatory Reports and Focus on Systemic Risk Only, Says the Cluff Fund Report

Following on from the decision to establish two new US federal bodies to monitor and address systemic risk – the Financial Stability Oversight Council and the Office of Financial Research – as part of the Dodd-Frank Act, the Anthony T Cluff Research Fund has collected together industry opinion on how these two bodies should operate,…

CFTC and SEC Seek Input on Joint Proposals for New Algorithmic Descriptions for Complex and Standardised Derivatives

In line with the Dodd-Frank Act’s push to get derivatives onto exchanges and centrally cleared, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have set up a joint study to examine the feasibility of adopting new standardised computer readable codes to identify complex and standardised derivatives. The request for comment…