News & Insights

Help
63 News Results

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

The House Committee on Agriculture continued its series of hearings on CFTC reauthorization. The latest hearing considered perspectives from a variety of market participants. The following witnesses testified: CME Group Executive Chair and President Terrence A. Duffy (written testimony); ICE Futures U.S. COO and President Benjamin Jackson (written testimony); NFA President and CEO Daniel J. Roth (written testimony); R.J. O'Brien Associates, LLC, Chair of the Board and CEO Gerald F. Corcoran (on behalf FIA) (written testimony); and Tulett Prebon CEO Shawn Bernardo (on behalf of the Wholesale

The Committee on Agriculture Subcommittee on Commodity Exchanges, Energy and Credit held a hearing titled "Reauthorizing the CFTC: End User Views." The following witnesses testified: Douglas Christie, President of Cargill Cotton, testifying on behalf of the Commodity Markets Council (written testimony); Lael E. Campbell, Director of Regulatory and Government Affairs of Constellation, an Exelon Company, testifying on behalf of the Edison Electric Institute (written testimony); Lisa A. Cavallari, Director of Fixed Income Derivatives of Russell Investments, testifying on behalf of the American

Commentary by Bob Zwirb

The U.S. House Committee on Agriculture held a hearing to review the futures, options and swaps markets overseen by the CFTC. CFTC Chair Timothy Massad was the sole witness. Chair Massad focused his testimony on the CFTC's key priorities for 2015 and on reviewing what it has accomplished since his time as Chair began. Chair Massad stated that the CFTC intends to make markets work for commercial end users and has undertaken actions to achieve this goal. The actions include, among other things: (i) proposing a rule on margin for uncleared swaps; (ii) amending its rules for transactions with

The U.S. House Appropriations Committee, Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies held a hearing regarding the CFTC FY 2016 budget. CFTC Chair Massad was the sole witness. In his testimony, Chair Massad advocated for a $72 million dollar increase in the CFTC budget. He explained that this $322 million budget request would allow the CFTC to focus on "critical activities," including: enhancing surveillance and enforcement capabilities; performing timely and thorough examinations of critical market infrastructure, such as that of exchanges