Facebook’s Diem proposal, the growing interest in cryptocurrencies, and the decreasing use of cash have all raised concerns regarding the government’s ability to enact monetary policy and retain monetary sovereignty. While China has already launched their own sovereign digital currency...

Part I provides an overview of the exchange-traded and OTC derivative markets, their regulation prior to the recent financial crisis and subsequent passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), risks posed by and the eventual institutional collapses that...

Memorable tales of financial collapse, such as that of Lehman Brothers (Lehman), Bear Stearns, and American Financial Group (AIG), frequently drive narratives of financial market crises and future preventative regulatory solutions. Much U.S. financial regulation, such as the monumental and...

Clearinghouses are the centerpiece of global policymakers’ 2009 framework of reforms in the over-the-counter derivative markets in response to the 2007–08 financial crisis. Dodd-Frank’s Title VII implemented these reforms in the U.S. More than ten years have now passed since the...

From February 14–19, 2021, winter storm Uri blanketed Texas with extreme cold. Tragically, the severe temperatures overwhelmed the state’s power system. Texas’ power grid ended up more than 20 Gigawatts short of the electricity Texans needed – more power than all of California produces...

Financial markets are increasingly developing innovative, ESG-related derivatives and relying upon these instruments to hedge ESG-related risks. The global derivatives markets are among the largest, most consequential financial markets in the world. Derivatives are financial contracts that...

Today, countless organizations rely upon cloud computing for operational and strategic reasons. Trading exchanges are no different. This article explores trading exchanges’ increasing migration to the cloud, related regulatory frameworks, and potential costs and benefits accompanying this...