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Sep 13, 2013

U.S. swaps regulator seeks bank openness on commodities

WASHINGTON, Sept 13 (Reuters) – Regulators should have
better insight into the commodity businesses owned by large Wall
Street banks to help them prevent market manipulation, a senior
official at the U.S. derivatives watchdog said.

The Federal Reserve is reviewing an exception that has
allowed banks to trade physical commodities and even own metals
warehouses and oil tankers despite a law that prohibits the
mingling of finance and commerce.

Sep 12, 2013

Regulator may delay swaps trading platform compliance

WASHINGTON (Reuters) – The U.S. swaps regulator may give new exchange-like platforms more time to comply with its rules, senior officials signaled, to let the industry sort out a spate of logistical issues before trading starts.

Some 20 companies are setting up a so-called Swaps Execution Facility (SEF), an untested type of trading platform designed to make the $630 trillion swaps market less opaque, and end the practice of privately negotiating deals.

Sep 12, 2013

U.S. regulator may delay swaps trading platform compliance

WASHINGTON, Sept 12 (Reuters) – The U.S. swaps regulator may
give new exchange-like platforms more time to comply with its
rules, senior officials signaled, to let the industry sort out a
spate of logistical issues before trading starts.

Some 20 companies are setting up a so-called Swaps Execution
Facility (SEF), an untested type of trading platform designed to
make the $630 trillion swaps market less opaque, and end the
practice of privately negotiating deals.

Sep 11, 2013

U.S. watchdog subpoenas swaps association over its benchmark

WASHINGTON, April 8 (Reuters) – The top U.S. derivatives
regulator is probing a widely used benchmark for swaps, the
trade body overseeing the rate said, dealing a further blow to
the opaque market after the sprawling Libor probe.

The Commodity Futures Trading Commission (CFTC) has
subpoenaed the International Swaps and Derivatives Association
(ISDA) over its ISDAfix benchmark, widely used to
anchor market rates, a spokeswoman for ISDA said.

Sep 9, 2013

U.S. derivatives watchdog issues high-speed trading report

WASHINGTON, Sept 9 (Reuters) – The U.S. derivatives
regulator published a long-awaited discussion paper on
computerized trading, a first step to what could become new
rules for a sector often blamed for market disruptions.

Seeking public comment on more than 100 topics, the
Commodity Futures Trading Commission is working closely with the
industry as it looks to adapt its rule-book to new technologies
such as ultra-fast trading.

Sep 6, 2013

U.S. regulators in talks with EU on energy price probe

LONDON/WASHINGTON (Reuters) – U.S. regulators are in talks to join European officials in their investigation of the oil markets, a European politician said, as both sides hunt for signs that trading benchmarks have been compromised.

But while the European Union has already raided the offices of major oil companies and price publisher Platts, the U.S. derivatives regulator has yet to launch a formal probe, two people familiar with the matter said.

Sep 3, 2013

London’s ICAP next to plan U.S. swaps trading platform

WASHINGTON, Sept 3 (Reuters) – Britain’s ICAP Plc
said on Tuesday it planned to set up a trading platform for
swaps, satisfying a requirement from regulators who are
rewriting the rules for the derivatives that helped cause the
2007-09 credit crisis.

Wall Street banks trade swaps in privately negotiated deals,
largely over the phone, through a handful of brokers such as
ICAP, but regulators want to shed more light on the lucrative
$630 trillion market.

Aug 30, 2013

Regulators agree on global swap rules ahead of G20 summit

WASHINGTON (Reuters) – Finance watchdogs on Friday laid out joint rules for the $630 trillion derivatives industry that was at the core of the 2007-09 credit meltdown, in a report to the G20 most powerful economies of the world.

The high-level agreement comes ahead of a G20 summit next week in St Petersburg, Russia, where world leaders will discuss progress they have made to tighten the rules for banks and prevent a repeat of the devastating crisis.

Aug 27, 2013

Regulator reviews Nasdaq as rivals blame each other for outage

NEW YORK/WASHINGTON (Reuters) – Regulators are questioning how robust Nasdaq OMX Group’s (NDAQ.O: Quote, Profile, Research) systems are after last week’s massive trading outage, while shrugging off a spat with NYSE Euronext (NYX.N: Quote, Profile, Research) as a distraction, a source familiar with the matter said on Tuesday.

The U.S. Securities and Exchange Commission has asked the rival exchange operators to come up with a blow-by-blow account of the trading disruption, but the two disagree on the details, other sources familiar with the situation said.

Aug 27, 2013

SEC reviews Nasdaq as rivals blame each other for outage

NEW YORK/WASHINGTON (Reuters) – Regulators are questioning how robust Nasdaq OMX Group’s systems are after last week’s massive trading outage, while shrugging off a spat with NYSE Euronext as a distraction, a source familiar with the matter said on Tuesday.

The U.S. Securities and Exchange Commission has asked the rival exchange operators to come up with a blow-by-blow account of the trading disruption, but the two disagree on the details, other sources familiar with the situation said.

    • 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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