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Oct 23, 2013

U.S. swaps regulator to vote on commodity limits rule

WASHINGTON (Reuters) – The U.S. derivatives regulator will meet next month to adopt a rule that will curtail Wall Street’s ability to speculate with commodities, a measure investment banks are fighting in court.

The Commodity Futures Trading Commission is revising the rule on so-called position limits, even as its lawyers are preparing to defend an earlier version knocked down by a U.S. court last year.

Oct 22, 2013

U..S swaps watchdog may drop anti-speculation rule appeal

WASHINGTON, Oct 22 (Reuters) – The U.S. derivatives
regulator is considering dropping its appeal to defend a rule
that would severely limit Wall Street’s ability to speculate
with commodities, a senior official at the agency said on
Tuesday.

The Commodity Futures Trading Commission is putting the
final touches on a revised position limits rule even as its
lawyers are preparing to defend the original rule that was
knocked out by a U.S. court last year.

Oct 22, 2013

CFTC may drop appeal on commodity trading limits, Wetjen says

WASHINGTON (Reuters) – The U.S. derivatives regulator is considering dropping its appeal to defend a rule that would severely limit Wall Street’s ability to speculate with commodities, a senior official at the agency said.

The Commodity Futures Trading Commission is putting the final touches on a revised position limits rule even as its lawyers are preparing to defend the original rule that was knocked out by a U.S. court last year.

Oct 21, 2013

Shell trading unit registers with U.S. swaps regulator

WASHINGTON, Oct 21 (Reuters) – A Houston-based unit of Royal
Dutch Shell Plc applied to become a registered
derivatives dealer, the second global oil company to accept
tough new U.S. trading rules.

More than 80 banks across the world that dominate the
lucrative commodity derivative trading business have registered
as so-called Swap Dealers with the Commodity Futures Trading
Commission since the beginning of the year.

Oct 18, 2013

Fed’s Tarullo says bank funding still biggest risk

WASHINGTON (Reuters) – Reforming short-term funding markets in which banks finance large parts of their business, remains the biggest unfinished job for supervisors around the world, a top U.S. bank regulator said on Friday.

“The most important systemic vulnerabilities that have not been subject to sufficient regulatory reforms are those created in short-term wholesale funding markets,” U.S. Federal Reserve Governor Daniel Tarullo said in a speech.

Oct 11, 2013

Exclusive: U.S. CFTC finishing new, tougher commodity limits rule – sources

WASHINGTON (Reuters) – The U.S. derivatives market regulator is nearing completion of a new rule for position limits in commodity markets that is in parts tougher than the previous proposal, two sources with direct knowledge of the plan said.

Commodity Futures Trading Commission Chairman Gary Gensler is rushing to get a revamped rule out before he leaves office in December, said the sources, even while agency lawyers are still preparing to defend the original position limits regulations that were knocked back by a U.S. court last year.

Oct 9, 2013

EU must speed up banking union to gain trust, IMF says

WASHINGTON (Reuters) – The International Monetary Fund urged the European Union to quickly set up an agency that would close or salvage troubled banks across the continent as part of an effort to shed a mountain of bad debt impeding economic recovery.

The recommendation – one of a long list to address structural faults in the world economy – comes as European Union lawyers raised concerns about the plan to set up a so-called banking union.

Oct 8, 2013

U.S. swaps markets go unpoliced in shutdown, regulator warns

WASHINGTON (Reuters) – Hundreds of trillions of dollars worth of derivatives are changing hands unsupervised during the U.S. government shutdown, raising the risk that doubtful activity goes by unnoticed, a top regulator warned.

“The cops aren’t on the beat looking at the derivatives markets in the United States,” Bart Chilton, a member of the Commodity Futures Trading Commission (CFTC) told CNBC television in an interview on Tuesday.

Oct 4, 2013

Change U.S. law on banks and commodities, regulator says

WASHINGTON (Reuters) – Congress should limit Wall Street’s controversial role in commodity markets, and rewrite a law that gives banks broad leeway to own oil, metals and other raw materials, a senior U.S. regulator said on Friday.

The Federal Reserve, the top U.S. bank watchdog, is rethinking its policy of allowing banks to operate in commodity markets amid accusations they inflate the prices of items such as aluminum and electricity.

Oct 2, 2013

Swap exchanges launch in threat to Wall Street profits

WASHINGTON, Oct 2 (Reuters) – More than a dozen new U.S.
exchanges opened their doors for clients on Wednesday, marking
the start of regulated trading of derivatives in a threat to one
of Wall Street’s most lucrative businesses.

Business may be tepid at first, because the bulk of the $630
trillion market will slowly move over to the exchanges in the
coming months, as part of a gradual implementation of the
Dodd-Frank law to overhaul Wall Street.

    • About Douwe

      "I head up the Financial Services team in London. We're 20 journalists, covering M&A, IPOs, restructuring, banking, real estate, investment management, hedge funds and private equity. I've worked for Reuters in Zurich, Frankfurt and Amsterdam."
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