Latest news with #CommodityExchangeAct
Yahoo
17-07-2025
- Business
- Yahoo
Time for Silver to Step Out of Gold's Shadow?
Silver has been underperforming gold for about 15 years, but technological advances could give it a much needed boost. Trading precious metals Using our gold, silver and other precious metals futures and options as a safe haven or revenue-generating assets. Learn More Trading precious metals Erik Norland Economic Research Article Video Metals Gold Silver The information herein has been complied by CME Group for general informational and education purposes only and does not constitute trading advice or the solicitation of purchases or sale of futures, options, swaps, any other financial instrument, or financial service. The views in this video reflect solely those of the author or speaker and not necessarily those of CME Group or its affiliated institutions. All examples discussed are hypothetical situations, used for explanation purposes only, and should not be considered investment advice of the results of actual market experience. Although every attempt has been made to ensure the accuracy of the information herein, CME Group and its affiliates assume no responsibility for any errors or omissions. All data is sourced by CME Group unless otherwise stated. All matters pertaining to rules and specification herein are made subject to and are superseded by applicable CME Group rules. Current rules should be consulted in all cases concerning contract specifications. CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. All other trademarks are the property of their respective owners. Neither futures trading nor swaps trading are suitable for all investors, and each involves the risk of loss. Swaps trading should only be undertaken by investors who are Eligible Contract Participants (ECPs) within the meaning of Section 1a(18) of the Commodity Exchange Act. Futures and swaps each are leveraged investments and, because only a percentage of a contract's value is required to trade, it is possible to lose more than the amount of money deposited for either a futures or swaps position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles and only a portion of those funds should be devoted to any one trade because traders cannot expect to profit on every trade. Please click here for CME Group's full disclaimer. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service. All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience. CME Group Inc. does not have control over the content, accuracy, quality, or legality, of any third-party product, service, or content advertised on this webpage. The presence of such advertisements on this webpage does not signify any association, partnership, or endorsement of the third-party or its content by CME Group Inc. Full disclaimer Copyright © 2025 CME Group Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
08-07-2025
- Business
- Business Wire
AEGIS Markets Seamlessly Handles Record Trading Volumes in Response to Geopolitical Activity
THE WOODLANDS, Texas--(BUSINESS WIRE)--AEGIS SEF, LLC ('AEGIS Markets'), a CFTC-regulated bilateral marketplace for commodity hedging, today announced the successful handling of record-setting trading activity during 2Q2025, driven by heightened market volatility linked to recent geopolitical events in the Middle East. 'AEGIS Markets' electronic platform executed a record number of trades,' said Andrew Furman, President of AEGIS Markets. Despite unprecedented volume and extreme price fluctuations, AEGIS Markets demonstrated resilience, efficiency, and scalability, enabling hundreds of commercial end users and dealers to execute swaps in crude oil, natural gas, and NGLs as markets fluctuated. 'AEGIS Markets' electronic platform executed a record number of trades,' said Andrew Furman, President of AEGIS Markets. 'Our platform once again proved its value, allowing commercial end users and their dealers to transact in a moment that truly mattered with greater speed, accuracy, and control than legacy methods like phone, chat or email ever could.' During the volatile 12-day conflict in the Middle East, the platform facilitated daily and monthly trading records that were previously set in 1Q, while maintaining real-time visibility, recordkeeping, auditability and control for users. 'On days like these, execution precision and operational efficiency are non-negotiable,' said Matt Marshall, President of AEGIS CTA, a registered Broker Firm on AEGIS Markets. 'The Marketplace was indispensable in enabling us to gather bids, execute trades, and service our clients with confidence and speed.' AEGIS Markets continues to expand its institutional capabilities, recently launching its Dealer Dashboard in February, which has further enhanced real-time trade monitoring, risk tracking, and position visibility for dealers. Platform growth has reached a milestone with a record of 37 active Dealers, reinforcing AEGIS Markets' growing role as the industry's preferred venue for bilateral OTC commodity trading. 'When markets are moving fast, there's no time to manually enter trades or scramble for CFTC SDR reporting compliance,' said Kwame Etwi, Manager of Operations for AEGIS Markets. 'Our straight-through processing and robust API integrations eliminate those burdens—freeing dealers to stay focused on the markets and their customers rather than manual processes.' Highlights from 2Q 2025: About AEGIS Markets AEGIS SEF, LLC d/b/a AEGIS Markets ('AEGIS'), a wholly owned subsidiary of AEGIS Hedging Solutions, LLC, is registered as a Swap Execution Facility ('SEF') under the authority of the Commodity Futures Trading Commission ('CFTC') pursuant to Section 5h (7 U.S.C. 5h) of the Commodity Exchange Act ('CEA') and Part 37 (17 C.F.R. Part 37) of the CFTC Regulations thereunder. All matters pertaining to the use of the Order Book, Request for Quotes (RFQ), or Offline Execution Functionality (OEF) of the AEGIS-SEF Platform to solicit bids/offers for, and execute, uncleared bilateral swaps are expressly subject to the rules set forth in the AEGIS-SEF Rulebook. This material is not required to be, and has not been, filed with the CFTC. Consequently, the CFTC has not reviewed or approved this material.
Yahoo
11-06-2025
- Business
- Yahoo
Trump's CFTC Pick Troubles Tribes With Prediction Market Plans
Tribal groups are concerned Kalshi, Robinhood and pose an existential economic threat to them through sports prediction markets—and on Tuesday, it became even more clear the Commodity Futures Trading Commission (CFTC) isn't coming to their rescue. CFTC chairman nominee Brian Quintenz made his pro-market stance apparent while speaking in front of the U.S. Senate Committee on Agriculture, Nutrition and Forestry at a Tuesday confirmation hearing. Quintenz told senators the CFTC has a 'very clear' mandate to permit the sports event futures contracts that financial technology companies have offered nationwide since the start of the year, despite state and tribal objections. More from Yasiel Puig Sports Betting Guilty Plea Overturned by Federal Court Robinhood's Sports Prediction Markets Are a Hook for Wider Play ESPN Bet Faces Make-or-Break Year for $2 Billion Disney-Penn Deal Unless Congress steps in with a new law, Quintenz said, 'I need to abide by the Commodity Exchange Act.' The CFTC's exclusive regulatory authority for sports event contracts under the Commodity Exchange Act is being challenged in court by multiple states; those states, like many tribal groups, call the markets an illegal sports betting equivalent that circumvents state taxes and other regulations. While no tribal group has filed a related lawsuit to date, more than a dozen have petitioned the CFTC to shut down sports prediction markets in their regions. Quintenz, a Kalshi board member, suggested unhappy tribal groups could compete with the new sports prediction markets by launching their own. But gaming exclusivity is the very right tribes are desperate to preserve in states where sportsbook operators such as DraftKings and FanDuel are banned. 'Nothing in the CEA that I'm aware of prohibits or affects the opportunity of tribes to offer those [prediction market products],' Quintenz said in response to a question from Democrat Sen. Adam Schiff of California. President Donald Trump's agency pick said he would 'listen to the concerns of the tribes' raised by Schiff and reschedule a public roundtable discussion canceled without explanation in April by acting chair Caroline Pham. He said he did not have any information about why the original discussion was nixed. 'We respect Tribal Nations and their inherent sovereignty,' a Kalshi spokesperson wrote in an email after Quintenz's hearing. 'The Commodity Exchange Act does not restrict Tribes from engaging in gaming activities on their reservations or within the states where they operate, consistent with applicable laws. We have had productive conversations with several Tribes and are hopeful to build collaborative partnerships in the future.' Amid conflict-of-interest concerns given his Kalshi ties, Quintenz wrote in a pre-hearing letter to the CFTC that he would step down from the company's board and divest stock upon being confirmed to lead the federal agency. He said he would recuse himself from matters involving Kalshi. In Tuesday's hearing, Quintenz told U.S. Sen. Amy Klobuchar (D-Minn.) that the CFTC would appoint a 'screener' in his office 'to make sure no matter inappropriately comes before me.' The current makeup of the CFTC strains the logic of his proposed strategy. If confirmed by the Senate, Quintenz would be the only commissioner at the CFTC, with the four other slots unfilled after a spate of resignations and retirements. It is unclear, then, who else right now could regulate the rise of Kalshi and similar companies that offer sports event futures. Departing commissioner Christy Goldsmith Romero, a Democrat, last month called the pending one-person CFTC leadership structure 'a disservice to regulation.' But Quintenz said several times in his hearing that he would not explicitly urge the president to nominate candidates from both political parties to be CFTC commissioners in accordance with agency rules—or ask that empty agency spots be filled at all. 'I don't tell the president what to do,' Quintenz said to U.S. Sen. Raphael Warnock (D-Ga.). Interim CFTC chair Pham has not taken a vocal stance on sports prediction markets since being named to the post in January. The agency has been hands-off toward Kalshi and other exchanges—a full turn from how things went during Joe Biden's presidency when the agency fought Kalshi in court over its election contracts. It dropped an appeal in the Kalshi election contract case after Pham took over for Biden-era CFTC chair Rostin Behnam. Quintenz has long argued that sports event contracts are a legitimate financial hedging tool that provide an opportunity for 'risk management, price discovery and price dissemination.' His claims date back to his stint as a CFTC commissioner from 2017-2021. During Tuesday's hearing, Quintenz repeated many of his talking points from a 2021 speech to the Federalist Society in which he said the CFTC has no right to inhibit sports prediction markets under the Commodity Exchange Act. The U.S. Senate Committee on Agriculture, Nutrition and Forestry will vote on whether to recommend Quintenz for full Senate approval. Then, the Senate will hold a final vote on Quintenz's nomination. Best of Most Expensive Sports Memorabilia and Collectibles in History The 100 Most Valuable Sports Teams in the World NFL Private Equity Ownership Rules: PE Can Now Own Stakes in Teams
Business Wire
30-05-2025
- Business
- Business Wire
Kirby McInerney Announces CFTC Whistleblower Award
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is proud to announce that the Commodity Futures Trading Commission (the 'Commission') has awarded approximately $700,000 to a whistleblower it represented. Under the Commodity Exchange Act and the Commission's Whistleblower rules, a whistleblower who provides valuable information is entitled to between 10% and 30% of monetary sanctions collected by the Commission for commodities law violations. The Commission gave the award in recognition that the whistleblower's 'highly significant' information caused the Commission's Division of Enforcement to open an investigation and 'precisely and accurately described' illegal conduct in the commodities markets. The award was also in recognition for the 'high degree of assistance' that the whistleblower provided the Division after the investigation was opened. Ultimately, the Commission concluded that the whistleblower 'conserved substantial resources for the Commission.' 'This case underscores the degree to which whistleblowers can play a critical role in helping regulators police esoteric commodities markets,' said Kirby McInerney Co-Managing Partner David Kovel, who oversaw the case. 'While we disagree with aspects of the CFTC's determination, overall we applaud the CFTC for its support and recognition of whistleblowers, like our client, who bring this important value to the enforcement of commodities markets.' Kirby McInerney extends its gratitude to its client and to the CFTC for investigating and pursuing this case. Kirby McInerney is a New York-based law firm concentrating in whistleblower, securities, antitrust, and consumer litigation. The firm's efforts on behalf of investors, consumers, and the government have resulted in recoveries totaling billions of dollars. The firm represents whistleblowers in numerous programs, including in the SEC, CFTC, and IRS whistleblower programs and in cases under the federal and state False Claims Acts. Kirby McInerney has been involved in some of the most cutting-edge areas of commodities litigation, and represented the whistleblower who received nearly $200 million, the largest CFTC whistleblower award ever. The firm's commodity litigation experience includes cases involving the manipulation of agricultural, energy, fixed income, foreign exchange, metals, and other markets. Notably, Kirby McInerney served as co-lead counsel for a class of exchange-based plaintiffs in the high-profile In re LIBOR-Based Financial Instruments Antitrust Litig., No. 11 MD 2262 (S.D.N.Y.) and secured settlements totaling $190 million for Eurodollar Futures traders. This amount represents the largest recovery in a 'futures-only' commodities class action litigation. Kirby McInerney's CFTC Whistleblower Team is led by the firm's Co-Managing Partner, David Kovel, who was previously a commodities trader for a large financial firm. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Yahoo
30-05-2025
- Business
- Yahoo
Kirby McInerney Announces CFTC Whistleblower Award
NEW YORK, May 30, 2025--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is proud to announce that the Commodity Futures Trading Commission (the "Commission") has awarded approximately $700,000 to a whistleblower it represented. Under the Commodity Exchange Act and the Commission's Whistleblower rules, a whistleblower who provides valuable information is entitled to between 10% and 30% of monetary sanctions collected by the Commission for commodities law violations. The Commission gave the award in recognition that the whistleblower's "highly significant" information caused the Commission's Division of Enforcement to open an investigation and "precisely and accurately described" illegal conduct in the commodities markets. The award was also in recognition for the "high degree of assistance" that the whistleblower provided the Division after the investigation was opened. Ultimately, the Commission concluded that the whistleblower "conserved substantial resources for the Commission." "This case underscores the degree to which whistleblowers can play a critical role in helping regulators police esoteric commodities markets," said Kirby McInerney Co-Managing Partner David Kovel, who oversaw the case. "While we disagree with aspects of the CFTC's determination, overall we applaud the CFTC for its support and recognition of whistleblowers, like our client, who bring this important value to the enforcement of commodities markets." Kirby McInerney extends its gratitude to its client and to the CFTC for investigating and pursuing this case. Kirby McInerney is a New York-based law firm concentrating in whistleblower, securities, antitrust, and consumer litigation. The firm's efforts on behalf of investors, consumers, and the government have resulted in recoveries totaling billions of dollars. The firm represents whistleblowers in numerous programs, including in the SEC, CFTC, and IRS whistleblower programs and in cases under the federal and state False Claims Acts. Kirby McInerney has been involved in some of the most cutting-edge areas of commodities litigation, and represented the whistleblower who received nearly $200 million, the largest CFTC whistleblower award ever. The firm's commodity litigation experience includes cases involving the manipulation of agricultural, energy, fixed income, foreign exchange, metals, and other markets. Notably, Kirby McInerney served as co-lead counsel for a class of exchange-based plaintiffs in the high-profile In re LIBOR-Based Financial Instruments Antitrust Litig., No. 11 MD 2262 (S.D.N.Y.) and secured settlements totaling $190 million for Eurodollar Futures traders. This amount represents the largest recovery in a "futures-only" commodities class action litigation. Kirby McInerney's CFTC Whistleblower Team is led by the firm's Co-Managing Partner, David Kovel, who was previously a commodities trader for a large financial firm. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on Contacts Kirby McInerney LLPDavid E. Kovel, Esq. 212-371-6600https:// dkovel@ Sign in to access your portfolio
