Agricultural/Financial correspondent
Christopher's Feed
Feb 29, 2012

Prop-firms may need to register as swap dealers: CFTC

WASHINGTON (Reuters) – The top U.S. futures regulator said on Wednesday firms engaged in proprietary trading that make a market in over-the-counter swaps may have to register as swaps dealers, under the financial regulation framework being implemented in the wake of the financial crisis.

Commodity Futures Trading Commission Chairman Gary Gensler said in an interview that Congress laid out a number of specific instances where an entity would be required to register as a dealer in swaps, such as if they make a market in these OTC derivatives and routinely have a regular business in dealing.

Feb 27, 2012

US judge says to rule quickly on CFTC limit rules

WASHINGTON (Reuters) – A U.S. judge on Monday said he planned to rule quickly on whether to temporarily block controversial new regulations that were adopted by the Obama administration as part of an effort to tamp down speculation in the commodities markets.

The U.S. Commodity Futures Trading Commission and groups representing the financial industry clashed in federal court over whether the agency overstepped its bounds by imposing restrictions last year to limit the number of contracts traders can hold in 28-commodities, including oil, coffee and gold.

Feb 26, 2012

Glass is still half full for flush American farmers

WASHINGTON, Feb 26 (Reuters) – Brian Roach scrawled a
simple outlook for corn prices in a spiral notebook, with a line
diving from the upper left hand corner to the lower right.

Sitting in a hotel ballroom at the U.S. Department of
Agriculture’s annual Agricultural Outlook Forum last week, the
commodity broker predicted increasing supplies and weakening
demand would slow a boom in the farm economy that has fattened
growers’ wallets and pushed up food prices.

Feb 23, 2012

CFTC plan sheds light on delays for block trades

WASHINGTON, Feb 23 (Reuters) – The U.S. futures
regulator on Thursday approved a measure that provides more
insight on when dealers can delay reporting large over the
counter swap transactions with sensitive price and size
information to the public.

However, Republican commissioners at the Commodity Futures
Trading Commission warned that poor quality data used in the
proposed new rule was “troubling” and could serve to undermine
efforts by the agency to boost swaps transparency.

Feb 23, 2012

CFTC rule to shed light on delays for block trades

WASHINGTON, Feb 23 (Reuters) – The U.S. futures
regulator will shed more light Thursday on how it will determine
the threshold in which dealers can delay reporting large
over-the-counter swap trades to the rest of the market.

The U.S. Commodity Futures Trading Commission will vote on a
proposal that would phase in the appropriate block sizes for
swaps in five asset classes: interest rate, credit, equity,
foreign exchange, and other commodities. The block size will
determine at what level trades are big enough that they can be
subjected to a longer reporting delay.

Feb 18, 2012

CFTC opposes request to block position limits rule

WASHINGTON, Feb 18 (Reuters) – The U.S. futures
regulator said the financial industry had failed to prove that a
federal court should temporarily block regulations that the
agency approved last year, aimed at preventing excessive
speculation in the commodity markets.

The Securities Industry and Financial Markets Association
(SIFMA) and the International Swaps and Derivatives Association
(ISDA) told the court earlier this month if the U.S. Commodity
Futures Trading Commission’s rules go into effect they would
irreparably harm their members and the public.

Feb 16, 2012

CFTC to define swap dealer at Feb 23 meeting

WASHINGTON, Feb 16 (Reuters) – The U.S. futures
regulator said on Thursday it will unveil on Feb. 23 rules that
will shed more light on which firms will be forced to set aside
additional funds to cover their transactions in the swap market
as it moves to toughen oversight in the once opaque market.

The U.S. Commodity Futures Trading Commission is expected to
vote on a final rule that would define a swap dealer and a major
swap participant. The Securities and Exchange Commission, which
is working with the CFTC on the joint rules, may also vote on a
similar measure next week.

Feb 13, 2012

Obama proposes large budgets boosts for SEC and CFTC

WASHINGTON (Reuters) – Financial market regulators, months behind in writing rules to implement the Dodd-Frank reforms and under pressure to probe the collapse of broker MF Global more vigorously, would get a big budget boost in the coming fiscal year from the spending plan that the White House proposed on Monday.

The Securities and Exchange Commission would get an 18.5 percent funding increase while the Commodity Futures Trading Commission would receive a 50 percent spending jump under the Obama administration’s fiscal 2013 budget.

Feb 9, 2012

CFTC rule boosts oversight of futures, swaps markets

WASHINGTON, Feb 9 (Reuters) – The Commodity Futures
Trading Commission approved a rule on Thursday designed to shed
more light on trading in the futures and swaps markets, the
agency’s latest effort to protect customers following the
collapse of MF Global last October.

The rule, which was approved 4-1 in private by the CFTC’s
five commissioners, would require investment companies such as
mutual funds that invest in commodities to register with the
CFTC. It reinstates measures in place prior to 2003.

Feb 8, 2012

Groups ask court to block CFTC position limit rules

WASHINGTON, Feb 7 (Reuters) – The financial industry
asked a federal court late on Tuesday to temporarily block
regulations approved by the U.S. futures regulator aimed at
preventing excessive speculation in commodity markets such as
oil and gold.

The Securities Industry and Financial Markets Association
(SIFMA) and the International Swaps and Derivatives Association
(ISDA) told the court if the U.S. Commodity Futures Trading
Commission’s rules go into effect they would irreparably harm
their members and the public.

    • About Christopher

      "Currently based in Washington, Christopher reports on agriculture in Congress and the U.S. Agriculture Department. He also is actively involved in covering regulatory reform, with a focus on the U.S. Commodity Futures Trading Commission."
    • Follow Christopher