Approval of the plan means self-regulatory organizations (SROs) have two months to select a plan processor to build and operate the CAT. Three firms—FIS, Thesys Technologies and the Financial Industry Regulatory Authority (Finra)—are vying for the opportunity to build it. The decision will be made through a two-round voting process in which each SRO has one vote.
SROs will have to begin reporting to the CAT within one year of approval. Large and small broker-dealers have to start reporting withi
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails