Cryptocurrency exchanges have a long way to go as far as providing protections for investors and other industry participants, says Gary Gensler, the former CFTC chairman who spoke last month at ISITC’s 24th Annual Securities Operations Summit in Boston. Gensler, who spoke during a wide-ranging political discussion about the changes underway in President Trump’s Washington,… Read More >>
Gemini Founders Want SRO for Crypto Markets
The founders of a cutting-edge digital asset exchange company, Gemini Trust Company, LLC, are arguing for a self-regulatory organization (SRO) that would govern transactions based upon emerging cryptocurrencies, and the effort has gotten the attention of the CFTC. Cameron Winklevoss, co-founder and president at Gemini, and his twin brother Tyler launched Gemini “a licensed digital… Read More >>
CFTC Clarifies Staff Ownership of Crypto Coins
Markets and venues for trading instruments based upon cryptocurrencies are emerging almost daily and CFTC officials have been trying to stay on top of this phenomenon via new policies and guidances, including a recent memo for CFTC staff that specifies the parameters of cryptocurrency ownership. Initial media reports implied that CFTC staffers would be set… Read More >>
CFTC & U.K.’s FCA Join Forces on FinTech Push
CFTC and FCA Sign Agreement to Collaborate The U.S. CFTC and the U.K.’s Financial Conduct Authority (FCA) report the signing of an agreement that “commits the regulators to collaborating and supporting innovative firms through each other’s fintech initiatives” — LabCFTC in the U.S. and FCA Innovate in Great Britain. The heads of both regulators saluted… Read More >>
CFTC Charges FCM with Neglecting Cybersecurity
AMP Global Clearing LLC (AMP), a registered futures commission merchant (FCM) settled charges with the CFTC over allegations of inadequate cybersecurity protections that led to an unauthorized copying of 97,000 client files. The Chicago-based AMP has been registered as an FCM with the CFTC since 2010, officials say. The CFTC has issued an order and… Read More >>
CFTC Hits DBSI with a $70M Civil Monetary Penalty
Deutsche Bank Securities Inc. (DBSI) will pay a $70 million civil monetary penalty for its attempted manipulation of the U.S. dollar ISDAFIX benchmark, according to a recent CFTC order that both filed and settled the charges against the indirect wholly owned subsidiary of Germany’s venerable Deutsche Bank AG. DBSI officials neither admitted nor denied the… Read More >>
The Regulators Didn’t Really Shut Down
The federal government shutdown lasted only three days but it looks as if the regulators for the securities industry were pretty much on the job whether or not the legislative geniuses of Washington, D.C. had reached an agreement. The SEC, for instance, has an operations plan, 18 pages long, that looks as if it was… Read More >>
Regulatory Shifts, MiFID II & IT Leaps to Rattle Markets in 2018
Regulatory change and the importance of data and analytics impacting trading venues, investors, dealers, and those that support them will continue to be main themes this year, according to a new report by Greenwich Associates, “Top Market Structure Trends to Watch in 2018 — The Year of Digital is Upon Us.” Greenwich Associates provides market… Read More >>
South Korea May Ban Bitcoin Trading as CFTC Gives Wary Approval
While U.S. and European regulators are mulling over what to do with bitcoin, the South Korean government, which is home to the world’s third largest cryptocurrency market, is planning to crack down on crypto currency trading. At a press conference, Park Sang-ki, justice minister for South Korea, said, “There are great concerns regarding virtual currencies… Read More >>
Integral Readies Market Data Support for Crypto Currency Pairs
Integral Also Launches iOS App Foreign exchange (FX) technology vendor Integral is now offering market data support for Bitcoin, Ethereum, Bitcoin Cash and Litecoin via its trading platform, the Open Currency Exchange (OCX), officials say. The expanded market data coverage will include the top pairings of: BTC/USD; ETH/USD; BCH/USD; and LTC/USD. Over the coming weeks,… Read More >>
