Rob Schwartz

Interesting move while the CFTC is actively looking at perpetual futures (there’s got to be a better nickname than “perps” right?). But then again, Coinbase launched 24/7 trading just weeks ago, and the CFTC is looking at that too. #crypto

It's an issue that's been important to him for a long time. Twice in 2019, then-Commissioner Quintenz dissented from relatively mundane Commission actions on the basis that the EU had not been cooperating on a common approach to the regulation of cross-border CCPs.

I'll be interested to see how the principle of reciprocity Quintenz is articulating manifests in the likely event he is confirmed.

"[A]ccess to our derivatives markets and market participants is a privilege and not an entitlement."

That's from Chairman-designate Quintenz's opening statement on Tuesday.

Recommended reading. FIA has been skeptical of 24/7 trading, in part because banks are not open 24/7, so moving cash for margin may be a challenge; even a systemic risk. This paper proposes that markets mitigate those concerns by the use of tokenized real-world assets. fia.org/sites/default/…