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ARTICLE · 28 OCTOBER 2016

Chair Massad Updates CFTC Priorities

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CFTC Chair Timothy Massad provided updates on his top five priorities: (i) margin requirements for uncleared swaps, (ii) automated trading, (iii) cybersecurity, (iv) swap execution facility trading, and (v) data reporting.

United StatesFinance and Banking
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CFTC Chair Timothy Massad provided updates on his top five priorities: (i) margin requirements for uncleared swaps, (ii) automated trading, (iii) cybersecurity, (iv) swap execution facility trading, and (v) data reporting. 

In a speech before the Futures Industry Association, Futures and Options Expo, Chair Massad reported progress on:

  • Margin for Uncleared Swaps. Chair Massad said that he expects that "other jurisdictions will soon finalize their margin rules." He said that he intends to ask his "fellow Commissioners" to consider a reproposal of capital requirements for swap dealers and major swap participants "in the coming weeks."
  • Automated Trading. Chair Massad indicated that the CFTC will "consider a supplemental proposal on certain issues related to it in the near future" that includes the Regulation Automated Trading ("AT") proposal's source code provision.

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