The CFTC (Commodity Futures Trading Commission) has carried a large load in the implementation of market reforms, and has continued to be aggressive in its enforcement of such regulatory regime. Further, in the spirit of the Dodd-Frank Act and its commitment to the reduction of systemic risk, the Commodity Futures Trading Commission (“CFTC”) has begun to address new areas of trading risk resulting from technology and innovation. The Report sets forth a high-level summary of the significant progress made with respect to the finalization and implementation across the US derivatives regulatory regime, as well as a bird’s eye view of the state of the EU derivatives regulatory market reforms, and the remaining challenges faced by the industry.