CFTC

When not forcing through highly unpopular new rules or wagging their fingers at glitch-prone regulatees, Gary Gensler & co. are busy dealing with their own technological issues. Read more »

  • 05 Nov 2013 at 5:13 PM

Bart Chilton Going Out On A High Note

The outspoken, flaxen-maned regulator is not going to be chairman of the CFTC. So, with this, he’s achieved all he will achieve, and will take his bows, depriving the financial world of a second hirsute overseer in as many days. Read more »

  • 07 Oct 2013 at 5:25 PM

Shutdown Watch, Day Seven: Nothing To See Here

No progress—unless you consider this progress. No CFTC report on the things the CFTC reports on, joining all of the other reports that are not coming out. Still no concern that the lack of progress means there will be a default, even if John Boehner is now saying he wasn’t serious when he said he wouldn’t allow a default. Some people smelling opportunity. And a reminder that the Federal Reserve is not reliant on Congressional appropriations in a way that will be obvious to those whose ATMs dispense something other than $20 bills. Read more »

Luckily, Robert Greifeld was able to solve that problem faster than the problem that led to the little get-together.

SEC officials on Thursday told exchanges to work with other market players to come up with “comprehensive action plans” to ensure that the data feeds are resilient, and to ensure the soundness of other “critical infrastructure systems,” according to an SEC statement.

Thursday’s SEC meeting, attended by top executives from exchange operators Nasdaq, NYSE Euronext, BATS Global Markets Inc., Direct Edge Holdings LLC, and others, was marked by one snafu. Nasdaq Chief Executive Robert Greifeld was 40 minutes late due to transportation problems, according to people who attended.

And lest you thought that (slowly outgoing) CFTC Chief Gary Gensler was going to let Mary Jo have all the fun, think again. Read more »

Lawyers for Mr. Corzine filed a motion late Tuesday to dismiss a civil case against him brought by the Commodity Futures Trading Commission, the federal agency that regulated MF Global until its demise in 2011. The 30-page motion, filed in Federal District Court in Manhattan, outlined Mr. Corzine’s defense and leveled a sharp critique of the commission, depicting the agency’s lawsuit as poorly drafted and error prone. “There is no evidence demonstrating that Mr. Corzine knowingly directed unlawful conduct or acted without good faith,” wrote the lawyers from Dechert, Andrew J. Levander and Benjamin E. Rosenberg. “Rather than acknowledge that reality and move on, the C.F.T.C. has clung to its baseless presumptions and manufactured charges of wrongdoing that are supposedly connected to Mr. Corzine.” [Dealbook]

  • 23 Aug 2013 at 1:46 PM

CFTC Ready To Slow Down High-Frequency Trading

In quaint, anachronistic terms, the regulator is creating a “road map” to figure out how to keep HFT from ruining everything. Eventually. Read more »