The second phase of the CFTC position limits rules comes into effect in January 2023. In this episode of the DerivSource’s podcast Living the Trade Lifecycle, we speak to Andrew Castello, vice president, head of reference data and Justin Hasnat, senior manager, Databank operations at FIA Tech about how firms can harness data to comply with the new position limit rules and ensure they are making a “reasonable, good faith effort” determination of the economic equivalence of an OTC swap compared to any of the 25 core-reference futures contracts.
Tune in to hear about some of the common challenges firms face as they prepare for this second phase of the rules and how FIA Tech’s Databank can help.
Related Reading and Resources:
CFTC Position Limits Rules for Derivatives
https://www.cftc.gov/IndustryOversight/MarketSurveillance/SpeculativeLimits/index.htm
About FIA Tech: https://fia-tech.com/
FIA Tech is the leading technology provider to the exchange traded derivatives industry. Owned since 2021 by a consortium of ten leading clearing firms and the Futures Industry Association, FIA Tech will be investing to further the development of existing products that have successfully served the industry and launch innovative new solutions to improve market infrastructure across the listed and cleared derivatives industry. FIA Tech works in close partnership with the broader industry, including exchanges, clearinghouses, clearing firms and other intermediaries, independent software vendors, buyside firms and end users to bring efficiency to the exchange traded and cleared derivatives industry.
Current FIA Tech services include digitally managing give-up agreements, meeting regulatory compliance requirements arising from CFTC, MIFID II and exchange regulatory compliance, reconciling and settling brokerage fees and providing reference data products that are required across the pre- and post-trade space in futures and equity options.
About FIA Tech Databank:
https://fia-tech.com/products/databank/
