Three of the biggest lobbying groups for banks and exchanges told the BOE that its proposals on algorithmic trading go beyond the EU’s standards and risk “creating operational inconsistencies and additional requirements” for firms doing business across the 28-nation bloc.
FIA asked the PRA to clarify the policies in several areas, align its policies with other market integrity regulations, and reassess the timing of any policy changes given the proximity to MiFID II implementation.
Several Chicago-based venture capital companies took part in a panel on financial innovation moderated by Chuck Mackie, consultant at Maven Wave Partners and contributing editor to John Lothian News, at The Trading Show Chicago on Thursday.
Following in the path of bitcoin futures launched by U.K.-based CryptoFacilities in 2015, and XRP futures launched in 2016, the company regulated by the Financial Conduct Authority (FCA) in the U.K. will start trading Ethereum futures at 4 p.m. U.K. time today.
“The CFTC is making the best use of the resources it has been given. … However, without sounding alarmist, I do want to express my genuine concern that the recent budget cuts hinder the CFTC’s ability to meet its core missions,” Quintenz said.
After years of budget pressure and escalating responsibilities, the U.S. derivatives regulator is considering employee buyouts and the extension of a hiring freeze.
To compete for business from large trading firms, some crypto exchanges are building out their infrastructures to look like traditional equities exchanges.
Michael Piwowar, a Republican member of the Securities and Exchange Commission, who was a frequent critic of post-crisis regulations and helped quash some rules embraced by Democrats plans to leave