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November 16, 2012
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Daily coverage for the global derivatives industry

  Top Stories 
  • CFTC files notice of appeal on position-limits ruling
    The Commodity Futures Trading Commission has filed a notice that it will appeal a court ruling that rejected its position-limits rule. "The rule addresses Congress's concern that ... no single trader be permitted to obtain too large a share of the market, and that derivatives markets remain fair and competitive," CFTC Chairman Gary Gensler said in a statement. "I believe it is critically important that these position limits be established as Congress required." Bloomberg Businessweek (11/15), The Hill/On the Money blog (11/15) LinkedInFacebookTwitterEmail this Story
  • U.S., Asian banks hope ring-fencing is enough for Dodd-Frank
    U.S. and Asian banks are hoping the Commodity Futures Trading Commission will deem ring-fencing of U.S. and U.S.-facing entities sufficient to meet the regulator's requirements for swaps dealers under the Dodd-Frank Act. The CFTC is still discussing its final guidance on cross-border application of Dodd-Frank rules. (subscription required) (11/15) LinkedInFacebookTwitterEmail this Story
  Industry News and Trends 
  • CFTC relieves concerns with clarification on gas deals
    The Commodity Futures Trading Commission has offered clarification on whether some physical gas agreements can be classified as swaps under new rules. Market participants were concerned that some transportation and storage agreements would be considered swaps, subjecting those involved to tougher regulations. Lawyers said the CFTC's clarification shows that most physical transactions will not be classified as swaps. (subscription required) (11/15) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • Proposed capital-rule exemption creates stir in Europe
    Controversy is brewing in Europe over a possible exemption for setting aside capital when trades involve sovereign entities and corporations. Uncertainty on whether the exemption will be in final rules is putting a strain on banks that are trying to price swaps transactions. Essentially, dealers complain that they are having to place bets on the outcome of closed-door negotiations. (subscription required) (11/15) LinkedInFacebookTwitterEmail this Story
  • EU officials proceed with transaction-tax proposal
    The European Parliament's Economic and Monetary Affairs Committee is moving forward on a pan-European financial-transaction tax. A report discussed by the committee outlines procedural deadlines, including a plenary vote in December by members of Parliament. Sources say the final plan will be similar to the European Commission's September 2011 proposal and should mirror France's tax, which took effect in August. The Trade News (U.K.) (11/15) LinkedInFacebookTwitterEmail this Story
  • Other News
Wisdom is not acquired save as the result of investigation."
--Sara Teasdale,
American poet

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