Asset managers worry about collateral requirements, poll finds
An Ernst & Young survey found that 58% of asset managers are concerned that there is a lack of quality and available collateral, particularly when rules governing over-the-counter derivatives come into effect. Additionally, only 24% said they have faith in collateral-transformation services. "It appears as though some firms do not want the hassle of dealing with the regulatory labyrinth to come, particularly those asset managers that don't have technical resources or sophisticated systems to easily adapt to new rules," said Ernst & Young's Anthony Kirby. The Trade News (U.K.)
Kuroda suggests BoJ could buy derivatives
Buying derivatives is a strategy the Bank of Japan would "carefully consider," said Haruhiko Kuroda, nominee for governor of the central bank. During confirmation hearings, Kuroda emphasized that he wants to address further easing and that while derivatives purchases are possible, bond buying remains the most likely tool the BoJ would use. Bloomberg
ICE will establish ceiling on fees in commodity market
IntercontinentalExchange has pledged to keep fees steady over the next five years on a number of commodity-derivative contracts that compete with those run by its prospective merger partner, NYSE Euronext. The decision is intended to ease the concerns of some merchandisers and buyers that the combined exchange would abuse its control over the trading of such commodities as cocoa, coffee and sugar. The Wall Street Journal
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Commentary: SEC and CFTC should be self-funded
Recent federal budget cuts highlight the importance of regulatory agencies being self-funded, write former Commodity Futures Trading Commission Chairman Brooksley Born and former Securities and Exchange Commission Chairman William Donaldson. The SEC and CFTC should be funded by the industry they regulate and not by the congressional appropriations process, write Born and Donaldson, who are both members of the Systemic Risk Council. Politico (Washington, D.C.)
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