CFTC Fintech Lab Initiative
On May 17, CFTC announced LabCFTC to promote fintech innovation.
- Approved creation of LabCFTC aimed at promoting responsible FinTech innovation.
- Chair Giancarlo, Commissioner Bowen spoke in support for regulators to catch up.
- Fintech Lab
- New York LabCFTC will look to accelerate CFTC engagement with FinTech, RegTech.
- Will make CFTC more accessible to innovators, platform to teach CFTC technology.
- Giancarlo said to help bridge gap towards 21st century regulation digital markets.
- Will identify and utilize emerging technologies to help CFTC to regulate effectively.
- Lab Goals
- Better understanding within CFTC of how new innovations interact with regulation.
- Collaboration between FinTech industry and CFTC market participants to innovate.
- Participate in studies, new research to facilitate responsible innovation in markets.
- Cooperation with financial regulators across US and overseas, to be more efficient.
- Monitoring trends and developments, so that CFTC regulatory framework support.
- Information sharing about applications for FinTech, use cases, benefits, and risks.
||B/D; Bank; Corp; Depo; Exch; FCM; OTC
||Sp, PR, 5/17/17, FinTech
||Trading; Research; Operations; Outsourcing; Reporting; Technology
||United States of America
||Commodities; Derivatives; Futures; Clearing
Last substantive update on 05/18/2017