Hedge fund and proprietary trading firms that participate in derivatives markets are embracing new ways of self-clearing and taking greater control of their margining because they have achieved “huge financial firepower, influence, and resources,” and need to fill a vacancy caused by capital-constrained, heavily regulated banks and other sell-side firms. This is according to a… Read More >>
Events Exchange Kalshi Klear Wins DCO Approval
Kalshi Klear LLC, a regulated exchange and prediction market, is a new derivatives clearing organization (DCO) via an order of registration from the Commodity Futures Trading Commission (CFTC). CFTC officials say Kalshi has demonstrated its ability to comply with the Commodity Exchange Act (CEA) and CFTC regulations that apply to DCOs. Kalshi’s affiliate, KalshiEx LLC,… Read More >>
OCC Settles Charges of Compliance Failures for $20M
The U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) report jointly that the Chicago-based Options Clearing Corp. (OCC) will make “pay $20 million in penalties to settle charges that it failed to implement policies to manage certain risks as required by U.S. laws and SEC and CFTC rules.” It… Read More >>
IBM & CLS Collaborate on DLT Network PoC
IBM and CLS to Work on DLT Proof-of-Concept Effort Computing giant IBM is collaborating with CLS, a market infrastructure group delivering settlement, processing, and data solutions, on a proof of concept (PoC) effort for LedgerConnect, described as a distributed ledger technology (DLT) platform for the financial services industry. The LedgerConnect offering to come is intended… Read More >>
