The US Commodity Futures Trading Commission (CFTC) is making a major effort to catch up with its peers in the UK and Singapore by setting up a financial technology ‘laboratory’, making more extensive use of its ‘no action relief’ rulings and signing co-operation agreements to facilitate ‘global sandboxes’.

CFTC chairman Christopher Giancarlo, who took on the position last year, called for a change of “mindset” at the regulator of derivatives markets to ensure it can embrace technological change