In the latest issue of Energy Metro Desk, Nodal Exchange CEO Paul Cusenza discussed recent CFTC approval allowing the Nodal Exchange to operate a derivatives clearing organization. By replacing its current London-based clearinghouse, LCH.Clearnet, with Nodal Clear, Nodal Exchange will "soon be a true, vertically integrated U.S. exchange clearinghouse" Mr. Cusenza asserted. Going forward, he noted that Nodal Clear is "looking to expand and broaden [its] product offerings significantly" and has a "key interest in the energy sector generally." Nodal Exchange is scheduled to switch to DCO status

In an American Enterprise Institute ("AEI") article titled "The Slow Economic Recovery Explained," senior fellow Peter J. Wallison draws a connection between the economy of the last six years and provisions of the Dodd-Frank Act. Mr. Wallison identified various studies indicating that small banks and businesses suffered as a result of costs imposed by the Dodd-Frank Act. He explained that such costs burden small firms and prevent them from obtaining access to the credit they need to grow. He argued that bigger businesses are able to reap the benefits of credit offered through the capital

Office of Financial Research (OFR) Director Richard Berner highlighted recent efforts by the OFR to (i) define, analyze and monitor vulnerabilities that arise from financial interconnectedness; (ii) establish data to monitor and evaluate these vulnerabilities; and (iii) determine the policy tools needed to mitigate and calibrate these vulnerabilities. Director Berner stated that OFR's current initiatives are meant to: holistically examine securities financing transactions (noting a recent OFR publication, Reference Guide to U.S. Repo and Securities Lending Markets); assist the CFTC in

The SEC Division of Trading and Markets granted no-action relief to Chicago Stock Exchange, Inc. from the "current" national best bid requirement of Reg. SHO, Rule 201 to determine whether a short sale order in a covered security subject to the rule can be executed in the exchange's "Sub-second Non-displayed Auction Process" or "SNAP" Cycle. The relief, which the SEC staff found appropriate to "address the tension between Regulation NMS provisions [Rules 610(d) and 611] and Rule 201," is subject to a number of specified conditions and will allow Chicago Stock Exchange, Inc. to use a reference

The Alternative Investment Management Association published a new cybersecurity guide for hedge fund firms and other asset managers.