|
|
The US Commodity Futures Trading Commission published a concept release aimed at bringing greater transparency and accountability to the derivatives marketplace.
The concept release reviews the underlying statutory and regulatory background, as well as the regulatory history and relevant marketplace developments which led to Recommendation Five.
The new exemptions would among other things be conditioned upon
Ø an obligation to report to the CFTC and applicable self-regulatory organizations when certain noncommercial swap clients reach a certain position level and/or
Ø a certification that none of a swap dealer’s noncommercial swap clients exceed specified position limits in related exchange-regulated commodities.
Deadline for comment is 26 March 2009.
Related documents
CFTC Staff Report on Commodity Swap Dealers and Index Traders with Commission Recommendations