CFTC Dodd-Frank Rulemaking The CFTC proposes certain substantive requirements on the resolution of conflicts of interest, in order to further implement core principles applicable to derivatives clearing organizations, designated contract markets, and swap execution facilities. Such substantive requirements address reporting, transparency in decision making, and limitations on use or disclosure of non-public information, among other things. For DCOs and DCMs, the Commission also proposes regulations to implement core principles concerning governance fitness standards and the composition of
March 29, 2011 In a paper published on March 29th, the International Swaps and Derivatives Association, Inc. outlined its views on the role, impact and optimal structure for Swap Execution Facilities in the global over-the-counter derivatives markets. Cross References Dodd-Frank Act, Title VII, Sec. 733
Risk.net August 15, 2011 The Swap Execution Facility Clarification Act, introduced to the US Congress on July 19 by Republican congressman Scott Garrett calls for restraint in rulemaking directed at swap execution facilities at the risk of "driving the swaps market to our foreign competitors simply because regulators have resisted providing the methods of swap execution that market participants require". Among other requirements, the Act would prohibit the CFTC and SEC from interpreting the SEF definition to require a minimum number of participants to receive or respond to quote requests, or
Press Release 6126-11 CFTC No-Action Letter 11-07 The CFTC's Office of General Counsel today announced that it issued a no-action letter on October 24, 2011, permitting the offer and sale in the United States of Taiwan Futures Exchange's futures contract based on the GTEX. The GTEX is a broad-based, free-float, market-capitalization-weighted composite index of highly capitalized and actively traded stocks listed on the board of the GreTai Securities Market, a non-profit organization modeled after the NASDAQ Cross References: CEA Section 2(a)(C)(ii).
Press Release 6131-11 The CFTC approved the application of Eris Exchange, LLC ("Eris") for designation as a contract market. Eris will list for trading interest rate swap futures contracts. Clearing services for Eris will be provided by CME Clearing House. Regulatory services for Eris will be performed by the National Futures Association. Cross References: 17 CFR Part 38