American Watchdog Publishes Manual for Companies Issuing Crypto Derivatives

May 23, 2018

The U.S. Commodity Futures Trading Commission (CFTC) has released a manual for clearing agencies and exchanges that plan to issue crypto derivatives. The regulator reported on this in the media release published on Monday.

The guidelines have been elaborated due to joint efforts of Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR). The purpose for these recommendations is providing regulatory clarity for companies that plan to allot crypto derivatives.

“The CFTC staff is committed to providing regulatory clarity as much as possible. CFTC staff will seek to provide additional guidance to help market participants keep pace with innovation while complying with CFTC regulations,” director of the DMO Amir Zaidi said.

The head for DCR Brian Bussey added, the information provided by CFTC will help all market players to prepare programs on managing risks from crypto derivatives.

Five aspects have been marked by CFTC that must be given specific attention to. They include enhanced market monitoring, close collaboration with CFTC, reports on large traders, risk management, derivative clearing organization supervision and providing required data for market players.

The manual became another step CFTC made towards establishing proper surveillance over the industry along with promoting innovations and similar products.

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