RTX Fintech & Research Launches a SEF Another swap execution facility (SEF) has gotten regulatory approval, raising the number of active SEFs to 24. The Commodity Futures Trading Commission last week issued an order of registration to RTX Fintech & Research LLC (RTX SEF) allowing RTX SEF to launch, according to the CFTC. The New York… Read More >>
TNS Buys BornTec’s Co-Location Services & Other News
TNS Adds to Global Connectivity Footprint Transaction Network Services (TNS) has acquired BornTec’s managed hosting and co-location business, which will add to TNS’ global connectivity footprint and bolster previous TNS acquisitions, officials say. The latest acquisition was completed on March 21, 2023. The BornTec co-location acquisition adds to TNS’s global deployment of Layer 1 ultra-low… Read More >>
Goldman Sachs Settles Swap Violations Case for $15M
Goldman Sachs & Co. is settling a case of alleged swap-trading violations with the Commodity Futures Trading Commission (CFTC) for $15 million. The regulator alleges that the firm in 2015 and 2016 “failed to provide the clients with the transparency that the regulations require.” In particular, the CFTC “found that Goldman failed to disclose dozens… Read More >>
NFA Adopts Rule Governing Digital Asset Commodities
The National Futures Association (NFA), a self-regulatory organization, is focusing its regulatory authority on digital asset commodity activities by adopting rules that set “anti-fraud, just and equitable principles of trade, and supervision requirements” for members and associates of the NFA. The scope of the newly adopted NFA Compliance Rule 2-51 “is currently limited to Bitcoin… Read More >>
CFTC Charges Binance Founder With Evading U.S. Law
The U.S. Commodity Futures Trading Commission (CFTC) reports it has “filed a civil enforcement action charging [Binance founder] Changpeng Zhao [CZ] and three entities that operate the Binance platform with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations.” The CFTC complaint, filed in the U.S. District Court for the Northern District of… Read More >>
Voting Begins in the FTF Awards Competition!
We are pleased to announce that voting has begun for the nominees of the FTF News Technology Innovation Awards 2023, a competition overseen by Financial Technologies Forum (FTF) and the news service. Industry participants pick the winners. Voting began on March 20 when we officially unveiled the nominees and will end on April 28. We… Read More >>
FTX Insider Faces SEC & CFTC Charges Too
Attention, screenwriters: Sharpen your pencils. We’ve reached a key moment in the FTX saga! The US Securities & Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Feds have turned their enforcement lasers on Nishad Singh, “the former co-lead engineer of FTX Trading Ltd. … for his role in a multiyear scheme to… Read More >>
CFTC Mandates UPIs for Swaps Records & Reporting
Without much fanfare, the CFTC in mid-February ordered registered entities and swap counterparties to use the unique product identifiers (UPIs) supplied by the Derivatives Service Bureau (DSB) for swaps in the credit, equity, foreign exchange, and interest rate asset classes to bolster transparency and compliance with CFTC swap recordkeeping and reporting requirements. In addition, the… Read More >>
SEC & CFTC Penalize Options Clearing Corp. for $22M
The Options Clearing Corp. (OCC), regarded as the largest equity derivatives clearing organization in the world, has announced settlements with the SEC and CFTC that add up to $22 million and are based on a self-reported case of shortcomings in meeting internal efforts to lower key operational risks. The cases revolve around the implementation of… Read More >>
CFTC Picks a New IT Infrastructure Contractor
The Commodity Futures Trading Commission (CFTC) reports that it has transitioned core IT infrastructure and operations support services to GovCIO, an IT and digital solutions provider to the federal government, replacing General Dynamics IT (GDIT), which had been serving the regulator since 2015. The CFTC’s $139 million, 10-year contract with GovCIO is not an outsourcing… Read More >>
