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For those who feared that the derivatives industry had had its fill of regulatory debate, there is still plenty of fodder for discussion as the process of Dodd-Frank implementation rolls on.
The fourth annual Wholesale Markets Brokers' Association (WMBA Americas) conference on Swap Execution Facilities (SEFs), SEFCON IV, will be held this upcoming Monday, November 18, 2013 at the Grand Hyatt Hotel in New York.
All five regulatory agencies put their stamp of approval on the Volcker Rule yesterday, effectively ending proprietary trading by banks and holding their chief executives more accountable for trading activities.
With the bulk of compliance deadlines now completed and new volume and revenue data starting to roll in, the future of the US swaps market is beginning to emerge.
In their haste to pass Dodd-Frank, lawmakers failed to consider the back-end infrastructure needed to support compliance.
On Monday evening, the CFTC announced that Commissioner Mark Wetjen was unanimously elected by the other members of the Commission to serve as Acting Chairman upon Gensler’s departure from the regulator at the end of the year. In reaction to his appointment, Wetjen was quoted in a CFTC press release saying:
As part of its efforts toward greater transparency in the derivatives markets, the CFTC announced in November that it has created a Weekly Swaps Report, which provides a detailed view of trading activity in the swaps market.
Margin recommendations for all forward-settling agency mortgage-backed securities that go into effect on Jan. 1 could mean a New Year full of operational deficiencies, legal gridlock and a lack of collateral know-how for the asset management industry.
Chris Doering and Sarah N. Lynch of Reuters report on the roundtable held by the Commodity Futures Trading Commission (CFTC) and Securities Exchange Commission (SEC) on May 2, recounting how banks and major market participants stressed the need for a timeline for implementation of rules under Dodd-Frank.
Eric Kolodner, managing director at Tradeweb in London, comments amendments to reforms of the derivatives market being debated by the Council of European Union and the European Parliament.