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ARTICLE · 06 JULY 2026

FinTech Five

Lowenstein Sandler LLP
Lowenstein Sandler LLP
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Lowenstein Sandler LLP

Lowenstein Sandler LLP

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Federal regulators are seeking to modernize derivatives trading frameworks while Kentucky challenges the CFTC's authority over prediction markets. The CFTC and SEC have issued multiple requests for public comment on portfolio margining harmonization and derivatives product definitions, while the House debates whether fintech firms should gain access to Federal Reserve payment systems.

United StatesFinance and Banking
Ethan L. Silver
Ethan L. Silver
William Brannan
William Brannan

1. CFTC and SEC Seek Public Comment Regarding Portfolio Margining Frameworks

On June 26, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) issued a joint request for public comment in connection with the harmonization of regulatory frameworks applicable to portfolio margining across securities, security-based swaps, futures, swaps, and related positions. The CFTC noted that financial markets are becoming increasingly convergent and interconnected, with new trading models, digital infrastructure, and novel products blurring traditional jurisdictional lines and prompting market participants to employ cross-asset strategies spanning cash securities, options, futures, and cleared and uncleared swaps. Because current regulations may require related positions to be held in separate accounts under different margin regimes, offsetting exposures sometimes go unrecognized, potentially creating capital inefficiencies and added liquidity demands

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