Cadwalader will host a panel on the CFTC's adopted rules on position limits for futures and swaps. The panel will examine the CFTC's proposed alternative to the designated contract markets ("DCM") and swap execution facility ("SEF") process for recognizing non-enumerated bona fide hedges, including anticipatory hedges, and for exempting certain spread transactions from speculative position limits. The panel will discuss recent comments on the proposal, as well as the relationship of the current proposal to the pending comprehensive proposal for position limits rules.
Preregistration for this program is encouraged, but so are walk-ups. D.C. Bar membership is not a requirement for attendance.
The "Off the Record" luncheon program is sponsored by the Finance and Securities Law Section of the Derivatives, Securitization and Project Finance Committee of the D.C. Bar Corporation.
Remarks made during "Off the Record" programs will not be published. The event will be held at 11:30 a.m. on July 21, 2016, in Cadwalader's D.C. office.
The panel will include the following participants:
Erik Haas, ICE Futures U.S., Intercontinental Exchange, Inc.
Thomas LaSala, CME Group Inc.
Stephen Sherrod, Division of Market Oversight, CFTC
Neal Kumar, Cadwalader, Wickersham & Taft LLP
Paul Pantano, Cadwalader, Wickersham & Taft LLP (Moderator)
Click here to register for the event.
The CFTC voted to supplement its 2013 position limits proposal. The revised proposal (i) modifies the procedures for seeking exemptions from speculative position limits for non-enumerated bona fide hedging, and (ii) defines procedures for recognizing certain anticipatory bona fide hedge positions.
CFTC Commissioner Sharon Y. Bowen called for the finalization and implementation of the CTFC's proposed position limits rules.
CFTC Commissioner J. Christopher Giancarlo delivered a speech before the USA EnergyRisk Summit. The speech focused on whether the proposed CFTC position limits rulemaking is necessary in the energy markets.
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