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February 8, 2013
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  Top Stories 
  • FERC's jurisdiction draws questions in Amaranth trader's case
    The Federal Energy Regulatory Commission's jurisdiction was the subject of questions from federal appeals court judges in a case involving a FERC fine for Brian Hunter, a former trader with Amaranth Advisors who is accused of manipulating spot natural gas prices. The Commodity Futures Trading Commission argues that its jurisdiction over such futures market transactions is exclusive. Reuters (2/7), Platts (2/7) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • Senate panel sets hearing to check Dodd-Frank progress
    Next week, the Senate banking committee will hear from seven regulatory officials on their progress in instituting Dodd-Frank Act rules. Elisse Walter, chairman of the Securities and Exchange Commission; Gary Gensler, chairman of the Commodity Futures Trading Commission; and Richard Cordray, director of the Consumer Financial Protection Bureau, are among those scheduled to testify. Reuters (2/7) LinkedInFacebookTwitterEmail this Story
  • Asian regulators tighten oversight of interest-rate setting
    Regulators in Hong Kong, Japan and other Asian financial centers are cracking down on the way key interest rates are determined amid a global investigation into possible manipulation of the London Interbank Offered Rate and other similar rates. The Hong Kong Monetary Authority, for example, is phasing out a few versions of the Hong Kong Interbank Offered Rate. HKMA has also taken away control of rate setting from an industry group. The Wall Street Journal (2/7) LinkedInFacebookTwitterEmail this Story
  • Volcker rule forces banks to change private-equity business
    The Volcker rule, set to be finalized this summer, is poised to significantly reduce Goldman Sachs' investment in its private-equity funds. Meanwhile, a spokeswoman for Bank of America says the company has decided to exit the private-equity business. Citigroup is looking at its options, a spokeswoman said. The Wall Street Journal (2/7) LinkedInFacebookTwitterEmail this Story
  Industry Developments 
  • Analysis: HKEx's after-hours futures trading may hit small brokers
    Hong Kong Exchanges and Clearing says it will start after-hours futures trading, which will place an added burden on smaller brokers, Eleni Himaras writes. "You are forced to expand the trading hours by the futures exchange, but your increased trade or revenue will not be able to cover the increased cost," said Francis Lun of Lyncean Securities. The result could be a further consolidation of the market into the hands of bigger brokerage houses, Himaras writes. Bloomberg (2/7) LinkedInFacebookTwitterEmail this Story
  Electronic Trading News 
  • Commentary: Be wary of slowing down HFT
    High-frequency trading helps to create efficient markets in a high-information world, and ill-considered regulations can create market distortions that do more harm than good, writes Holly Bell, an assistant professor at the University of Alaska Anchorage. The Wall Street Journal (2/7) LinkedInFacebookTwitterEmail this Story
  Commodities and Managed Futures 
  • Analysis: Aluminium swaps may not be widely embraced
    European banks are offering swaps designed to protect aluminium users from larger surcharges than they already face, but volume may be affected because a worldwide surplus of aluminium may make extra fees unpalatable, Veronica Brown and Susan Thomas write. Reuters (2/7) LinkedInFacebookTwitterEmail this Story
  FIA News 
  • FIA Division Membership Drive is Now Open for 2013
    The FIA Chicago, Futures Services, Information Technology and Law & Compliance Divisions have started their membership drives for 2013. Any employee of an FIA member firm is eligible to join a division for a small annual membership fee. Divisions give members the opportunity to discuss common issues, exchange ideas, give input to the FIA board, and network with peers. Join here. LinkedInFacebookTwitterEmail this Story
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If you want to make enemies, try to change something."
--Woodrow Wilson,
28th U.S. president

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