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CFTC's LabCFTC Releases Primer about Smart Contracts
November 27, 2018--The Commodity Futures Trading Commission's LabCFTC today released, "A CFTC Primer on Smart Contracts."
This primer is part of LabCFTC's effort to engage with innovators and market participants on a range of financial technology (FinTech) topics, and follows on a 2017 primer on virtual currencies and the agency's recent FinTech Forward conference.
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Source: CFTC.gov
CFTC Approves a Final Rule to Amend Uncleared Swap Margin Requirements
November 19, 2018--The Commodity Futures Trading Commission (CFTC) announced today that it has approved a final rule to amend its uncleared swap margin requirements (CFTC Margin Rule) to better align with certain rules (QFC Rules) adopted by the Board of Governors of the Federal Reserve System (FRS), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) that impose restrictions on certain qualified financial contracts.
This final rule is consistent with rule changes recently adopted by the Prudential Regulators to the Prudential Margin Rule and addresses suggestions received as part of the CFTC's Project KISS initiative for the CFTC to harmonize its uncleared swap margin regime with that of the Prudential Regulators.
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Source: CFTC.gov
UPDATE 1-China, Japan's U.S. Treasuries holdings fall further in September
November 16, 2018--China sold most Treasuries in nearly two years in September
Japan bought Treasuries despite further drop in holdings
Foreigners continue to cut back on U.S. stock positions
China and Japan, the two biggest foreign U.S. creditors, cut their U.S. Treasury holdings further in September, as foreign appetite for Treasuries seemed to be waning due to growing government borrowing in the bond market, Treasury Department data released on Friday showed.
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Source: cnbc.com
Lipper U.S. Weekly FundFlows Insight Report: Investors Park Assets in Money Market Funds in Response to Market Volatility
November 16, 2018--Lipper's fund asset groups (including both mutual funds and ETFs) took in $13.7 billion of net new money for the fund-flows week ended Wednesday, November 14. The net inflows were driven by money market funds (+$12.4 billion) and equity funds (+$2.7 billion), while taxable fixed income funds (-$1.2 billion) and municipal bond funds (-$131 million) both saw net money leave.
Market Overview
The Dow Jones Industrial Average (-4.20%) and the S&P 500 Index (-3.99%) both suffered substantial losses during the fund-flows trading week.
view more SEC Official Warns Leveraged Funds Could Hurt Reputation of ETFs view more
The November survey, canvassing investors managing $641 billion, was conducted from Nov 2-8 as funds, relieved over the outcome of U.S. midterm elections, rushed to buy more equities.
Source: Reuters
November 12, 2018--Investment products that use derivatives to improve returns are threatening the reputation of the $3.6 trillion market for exchange-traded funds, according to one of five commissioners at the U.S. Securities and Exchange Commission.
"The risk with levered ETFs is that the entire asset class will be painted with this brush," said Robert Jackson Jr., adding that he fears Americans will buy and hold these products in their retirement accounts, and then get a nasty surprise when they lose their money.
Source: Bloombergquint.com
