A staff report issued by the Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Overight (DSIO) has been seized upon by CFTC commission Brian Quintenz to support his argument that the use of notional amounts for the $8 billion de minimis threshold for firms to be considered Swap Dealers is misguided. Quintenz has […]
Tag: Brian Quintenz
Remember to download and subscribe to In the FICC of It at the Apple iTunes store and this week you can enjoy Colin Lambert and Galen Stops stepping into tricky territory by discussing actual economic things! As always seems to be the case Lambert is mystified by a US government decision, while Stops suddenly has […]
CFTC Commissioner Brian Quintenz has welcomed the formation of an industry trade association for cryptocurrency traders.
The Virtual Commodity Association (VCA) has formed a working group and will hold its inaugural meeting in September. It says the meeting will consider guidelines for membership as well as for best practices and rules-based marketplaces that will promote fairness, transparency, risk management, and liquidity.
It will further discuss best practice guidelines that will address member conflicts of interest, client communications, client disclosures, and record keeping; as well as the staffing needs of the association, including an executive director and compositon of the board of directors.
The changing mood amongst US regulators towards the regulation of automated trading was reflected in a speech by CFTC commissioner Brian Quintenz late last week, when the newly-confirmed regulator said the controversial RegAT rule was “D-E-A-D”.
Commissioner Quintenz, who was appointed to the Commodity Futures Trading Commission in August 2017,spoke of “one of the most serious missed opportunities of the agency’s prior pending rulemakings – Regulation Automated Trading, or “Reg AT”. His sentiments are likely to be widely welcomed by market participants.
The US Senate has confirmed Christopher Giancarlo as the permanent chairman of the Commodity Futures Trading Commission (CFTC), while Rostin Behnam and Brian Quintenz have been confirmed as commissioners.
Dawn Stump has also been nominated as a CFTC commissioner, but is still awaiting Senate confirmation.
“Honored to be confirmed by @ussenate as Chairman of the @CFTC, along w/2 new Comn’rs Benham & Quintenz. Expect Dawn Stump confirmation soon,” said Giancarlo on Twitter immediately after the Senate decision.
Giancarlo was named as the acting chairman of the CFTC in January and was nominated to head the Commission on a permanent basis in March.