Commodity Futures Trading Commission (CFTC) has said it is nearing the completion of its reauthorisation process and last week appeared poised to address FX regulatory oversight, portfolio margining and broad-based index guidelines.
Walt Lukken, CFTC commissioner, told FO Week at China Financial Derivatives Forum in Shanghai that the president's working group (PWG) should have its recommendations to Congress in the next several weeks.
PWG, which is chaired by the secretary of the Treasury and includes the leaders of Federal Reserve Bank, Securities and Exchange Commission (SEC) and CFTC, should address new legal language to police FX trading firms, portfolio margining for single stock futures (SSFs) and equity options and...