CFTC Approves Notice of Proposed Rulemaking to Enhance its Identification of Futures and Swap Market Participants

CFTC Approves Notice of Proposed Rulemaking to Enhance its Identification of Futures and Swap Market Participants

Washington, DC – The Commodity Futures Trading Commission (CFTC or Commission) has approved for publication in the Federal Register proposed rules and related forms to enhance its identification of participants in Commission-regulated futures and swaps markets. The proposed rules would enhance and automate the Commission’s existing position and transaction reporting programs by requiring the electronic submission of expanded trader identification and market participant data…..”

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Senior Official from European Union Delegation Addresses CMC Members

On CMC’s member-only policy call this week, a senior official from the European Union Delegation to the U.S. spoke with CMC members about the European macroeconomic and financial regulatory environment. He expressed confidence that the European Union in its current form would survive the crisis and that it would in fact emerge an economically and politically stronger union. He opined that the macroeconomic rebalancing process and financial regulatory initiatives will take a few years to play out to completion, but once done, they will make for a cohesive economic unit on the global stage. On financial regulation, he said that Europe leads the U.S. on capital and margin related issues, but trails the U.S. on derivatives related issues.

CFTC News

CMC Board of Directors Announce Five New Directors

CMC’s Board of Directors announced the addition of five new directors.

BP

  • Representative: Andy Milnes, Head of Supply & Trading

CTC

  • Representative: Christina Sciotto, Partner

Cargill

  • Representative: Mike Ricks, Assistant Vice President

Macquarie

  • Representative: Eric Bowles, Executive Director

RJ O’Brien

  • Representative: Rich Feltes, Vice President of Research

Effective today, they will join CMC’s current list of 18 directors.  “These appointments reflect the growth and diversification the Council has experienced over the last few years,” said Charlie Carey, CMC Chairman.  “Everyone is excited about the thoughtfulness they will bring and I look forward to working with each of them.”

The Political Economy Discussed on CMC’s Policy Call

On this week’s CMC policy call, Matt McDonald of Hamilton Place Strategies discussed the potential impacts of the national and international economic climate on the 2012 American presidential elections.  He provided CMC members with his perspective on how the campaigns are trying to frame the economy and persuade voters with their arguments.

The CFTC Announces the Departure of Chief Economist Andrei Kirilenko to the Massachusetts Institute of Technology

The CFTC Announces the Departure of Chief Economist Andrei Kirilenko to the Massachusetts Institute of Technology

“The Commodity Futures Trading Commission (CFTC) today announced that Chief Economist Andrei Kirilenko will depart the Commission at the end of 2012 to become Professor of the Practice of Finance at the Massachusetts Institute of Technology (MIT) Sloan School of Management….”

CFTC 77 FR 36611

http://www.cftc.gov/LawRegulation/FederalRegister/FinalRules/2012-12746

“The Commodity Futures Trading Commission (“Commission” or “CFTC”) is adopting new and amended rules, guidance, and acceptable practices to implement certain statutory provisions enacted by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). The final rules, guidance and acceptable practices, which apply to the designation and operation of contract markets, implement the Dodd-Frank Act’s new statutory framework that, among other things, amends section 5 of the Commodity Exchange Act (“the Act” or “CEA”) concerning designation and operation of contract markets, and adds a new CEA section 2(h)(8) to mandate the listing, trading and execution of certain swaps on designated contract markets (“DCMs”)….”