Agricultural/Financial correspondent
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Dec 8, 2010

CFTC’s Chilton wants more high frequency trade oversight

WASHINGTON (Reuters) – A top official at the U.S. futures regulator said Wednesday he supported tougher oversight of the high-frequency trading market, including measures that would require exchanges to review and monitor these computer programs.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission, said in prepared remarks that traders responsible for high frequency or algorithmic trades that damage the market and consumers should be held accountable.

Dec 2, 2010

CFTC’s Chilton urges agency to act on position limits

WASHINGTON (Reuters) – A top official at the Commodity Futures Trading Commission on Thursday pushed the agency to act quickly on a long-awaited plan to limit speculative positions held by commodity traders.

The regulator, which has a mid-January deadline, has been pushing back the date to propose new speculative limits in energy and metals markets, and so far has not given a time for when it will be introduced.

Dec 2, 2010

Traders warn U.S. CFTC about vague bans on practices

WASHINGTON (Reuters) – The U.S. futures regulator asked traders on Thursday how best to define trading practices now banned in a new Wall Street reform law, but got little clarity from the experts, who fear an overly restrictive crackdown.

The Commodity Futures Trading Commission is grappling with how to give markets more direction on how they intend to carry out a ban in the Dodd-Frank law on three disruptive practices — and whether regulators should go further and rein in high-frequency traders.

Dec 1, 2010

CFTC won’t make January position limits deadline: Sommers

WASHINGTON (Reuters) – The futures regulator will miss a mid-January deadline to finalize its long-awaited plan to limit speculative positions held by commodity traders, an agency official said on Wednesday.

“At this point we’re not going to make the deadline,” Jill Sommers, a commissioner at the Commodity Futures Trading Commission, told Reuters. “I don’t see how we make the January deadline.”

Dec 1, 2010

CFTC sets out swap dealer rules; feared too tight

WASHINGTON (Reuters) – The U.S. futures regulator unveiled on Wednesday a key piece of its plan to toughen rules on trading in the vast swaps market, making clearer which firms will have to set aside more funds to cover their deals.

After last-minute wrangling that underscored the strain facing agencies trying to implement the biggest financial regulatory overhaul since the Great Depression, the proposal defined who will be subject to capital and margin requirements as swap dealers and major swaps participants.

Dec 1, 2010

Scrambling CFTC proposes key rule in nick of time

WASHINGTON, Dec 1 (Reuters) – The U.S. futures regulator scrambled on
Wednesday to introduce a key rule that will give its clearest picture to
date on what firms will be subject to the toughest scrutiny for their swaps
trades.

The Commodity Futures Trading Commission will propose the broad metrics
that will define which counterparties will be classified swap dealers and
major swap participants, players required to post capital and margin for
their trades, according to an agenda for the meeting starting at 9:30 a.m.
ET (1430 GMT).

Nov 23, 2010

China to buy 5.5 mln T of US soybeans-USDA

WASHINGTON, Nov 23 (Reuters) – Chinese importers intend to
buy more than 5.5 million tonnes of U.S. soybeans from seven
U.S. companies, including Cargill, valued at nearly $3 billion,
according to the U.S. Agriculture Department and industry
officials.

The U.S. Soybean Export Council said the seven exporting
companies — Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz), Bunge North
America (BG.N: Quote, Profile, Research, Stock Buzz), Cargill, Zennoh Grain Corp, Louis Dreyfus Corp,
Columbia Grain Trading and Toepfer International — signed
purchase agreements with 10 Chinese companies.

Nov 19, 2010

U.S. regulators part curtain on swaps, hedge funds

WASHINGTON (Reuters) – U.S. regulators moved on Friday to bring more transparency to the sprawling derivatives market, hedge funds and private equity, all dimly lit corners of the financial world getting more scrutiny.

Proposed rules issued by the Commodity Futures Trading Commission and the Securities and Exchange Commission showed regulators stepping cautiously as they implement hundreds of new regulations mandated in July by Congress.

Nov 19, 2010

Regulators shine light on swaps and hedge funds

WASHINGTON (Reuters) – Regulators moved on Friday to bring more transparency to the sprawling derivatives market, hedge funds and private equity, all dimly lit corners of the financial world slated for more oversight.

A raft of proposed rules issued by the Commodity Futures Trading Commission and the Securities and Exchange Commission, all preliminary, showed regulators taking cautious steps to implement reforms mandated by Congress in July.

Nov 19, 2010

U.S. regulators shine light on swaps, hedge funds

WASHINGTON, Nov 19 (Reuters) – U.S. regulators moved on
Friday to bring more transparency to the sprawling derivatives
market, hedge funds and private equity, all dimly lit corners
of the financial world slated for more oversight.

A raft of proposed rules issued by the Commodity Futures
Trading Commission and the Securities and Exchange Commission,
all preliminary, showed regulators taking cautious steps to
implement reforms mandated by Congress in July.

    • 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."
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