CFTC Chairman Gary Gensler delivered a speech (which is basically a repeat of the speech in yesterday's news at the Ontario Securities Commission) before the Futures Industry Association (FIA) Expo 2012 in Chicago, Illinois. Chairman Gensler reviewed three key initiatives that commissioners will finalize by the end of this year. These initiatives include: the clearing requirement, transparency reforms and the cross-border application of Dodd-Frank. Gensler also discussed enhancing customer protection and ensuring for the integrity of benchmark interest rates. View speech in full here (links

In light of the entry into force today (November 1, 2012) of the short selling regulation on, and certain aspects of, credit default swaps (Regulation (EU) No. 236/2012), the Financial Services Authority has published a web page that sets out a summary on how the new regime short selling will affect investors and provides guidance as to how affected persons may make their notifications and disclosures to the FSA.

CFTC Commissioner Scott D. O'Malia opened public review and discussion on three significant issues in his speech before the Technology Advisory Committee ("TAC") in Chicago, Illinois. These issues are: (i) High-Frequency Trading ("HFT") , (ii) technology used to protect customer funds, and (iii) technology used for FCM and CCP risk management. Commissioner O'Malia said that he intends to put an end to confusion as to the CFTC's requirements by opening public discussion of technology issues. As to HFT, O'Malia asked TAC members to carefully review the work previously done on the subject and

The meeting will be held on November 7, 2012, from 9:30 a.m. to 4:30 p.m. The notice reports that there will be two panels, including a regulators' panel. Members of the public who wish to submit written statements in connection with the meeting should submit them by October 31, 2012. Click here to view notice in full (links externally to CFTC website).

In the latest development in the reform of the Markets in Financial Instruments Directive ("MiFID"), members of the European Parliament have voted overwhelmingly in favor of additional amendments to the current draft proposals. Key measures approved by the Parliament include: ensuring that trading venues set out transparent rules for executing orders; stipulating that all high-speed transactions are valid for at least 500 milliseconds before they can be cancelled or modified; and imposing thresholds on commodity derivatives trading such as the maximum net position that traders can hold or