CFTC Launches LabCFTC as Major FinTech Initiative
On May 17, the Commodity Futures Trading Commission announced the creation of LabCFTC, a new initiative aimed at promoting responsible FinTech innovation to improve the quality, resiliency, and competitiveness of the markets the CFTC oversees. The core components of LabCFTC are: (1) GuidePoint, which will serve as a dedicated point of contact for FinTech innovators to engage with the CFTC, learn about the CFTC’s regulatory framework, and obtain feedback and information on the implementation of innovative technology ideas for the market; and (2) CFTC 2.0, an initiative to foster and help initiate the adoption of new technology within the CFTC through collaboration with FinTech industry and CFTC market participants.
LabCFTC is based in the CFTC’s New York offices; its director is Jeffrey Bandman, who previously served as Acting Director of the Division of Clearing and Risk, among other positions at the CFTC.
More information and the news release are available here.