Briefings
Week InAdvance: December 14, 2015
- By: admin
- On: 12/14/2015 10:31:51
- In: Week InAdvance
The Commodity Futures Trading Commission will consider proposing rules on Wednesday which would require system safeguards and testing for futures and derivatives industry infrastructures such as exchanges, clearinghouses and swap data repositories. At the same meeting, the agency will consider adopting a rule addressing margin on uncleared swaps - those traded directly between banks, manufacturers and other firms that are not settled through a central counterparty. The proposals are expected to include provisions requiring in-house testing of cybersecurity and operational risk measures, with an overall emphasis on information security, physical security and business continuity and disaster recovery. The uncleared margin rule was proposed in 2014. It is expected to mirror, but not copy, a regulation adopted in October by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency.
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