U.S. House Ag Subcommittee Holds Hearing on CFTC Reauthorization (with Delta Strategy Group Summary)

The U.S. House Agriculture Subcommittee on Commodity Exchanges, Energy and Credit held a hearing titled "Reauthorizing the CFTC: Commissioners' Perspectives." CFTC Commissioners Sharon Bowen, Christopher Giancarlo and Mark Wetjen testified at the hearing.

The Commissioners expressed views on a number of issues facing the CFTC. To increase volume on swap execution facilities ("SEFs"), Commissioners Bowen and Wetjen called for the elimination of post-trade name give-up on order books. Commissioner Giancarlo suggested measures that include amendments to SEFs' core principles. Commissioner Wetjen added that a liquidity crisis caused by increased capital rules on traditional liquidity providers could be addressed by opening up SEFs to non-traditional swaps liquidity providers, as well as revisiting the floor trader provision in the definition of "swap dealer."

Click here for a hearing summary prepared by Delta Strategy Group.

See: House Subcommittee Press Release; Commissioner Bowen's Written Testimony; Commissioner Giancarlo's Written Testimony; Commissioner Wetjen's Written Testimony.