The National Securities Clearing Corporation, a subsidiary of the Depository Trust & Clearing Corporation, will “increase clearing hours to support extended trading.”
The full update can be found here on our US Regulatory Intelligence platform.
On 24 January 2025, the Global Foreign Exchange Committee (GFXC) issued a press release announcing that it had completed its review of the FX Global Code (Code).
This latest version of the Code will supersede the July 2021 version. Updates have been made to five of the Code’s fifty-five principles to
On 13 February 2024, the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report ‘Streamlining variation margin in centrally cleared markets – examples of effective practices’.
In September 2022, the Basel Committee on Banking Supervision, CPMI and
On 6 December 2022, the Global Foreign Exchange Committee (GFXC) issued a press release concerning its recent video conference meeting where, among other things, it nominated and elected a new Co-Vice Chair. Also during the meeting GFXC members also agreed to commission a Digital Proportionality Tool for facilitating FX Global Code adherence. This
On 8 November 2021, the Bank of England (BoE) issued a Consultation Paper and a draft Statement of Policy on its approach to ‘tiering’ non-UK central counterparties (CCPs) based on the level of systemic risk they could pose to UK financial stability. The consultation closes on 25 February 2022.
Under the
On 7 October 2021, the Committee on Payments and Market Infrastructures (CPMI) issued a call for ideas on payment-versus-payment (PvP) mechanisms.
As part of the G20 cross-border payments roadmap, the CPMI is developing proposals for increased PvP adoption by encouraging enhancements to existing PvP arrangements and/or the design of new public
On 18 August 2021, the Global Foreign Exchange Committee (GFXC) issued a guidance paper on ‘last look’ trading within the Foreign Exchange market. Last look is a practice used in electronic trading where a market participant has a final opportunity to accept or reject a trade request made on its quoted price. The
On 6 August 2021, the FCA published a Memorandum of Understanding between itself, the Bank of England and the United States Securities and Exchange Commission regarding consultation, cooperation and the exchange of information in the supervision and oversight of certain over-the-counter derivatives entities that operate on a cross-border basis in the United States and the