Roundtable Discussion on DCO Orderly WindDown
Commodity Futures Trading Commission (“CFTC”) staff will hold a public roundtable on March 5, 2015 to discuss issues related to recovery and orderly winddown of Derivatives Clearing Organizations (“DCOs”). The goal of this roundtable is to gather views from a variety of stakeholders, including DCOs, their clearing members (futures commission merchants), and the customers of their clearing members (including money managers, endusers, and others). CFTC Press Release.
Chair Massad Considers Raising Uncleared Swaps Margin Requirements
On February 26th, Reuters summarized CFTC Chair Timothy Massad’s recent speech. Massad said that in order to harmonize proposed U.S. margin rules for overthecounter swaps trades with those of Europe and Japan, the CFTC would consider raising its margin requirements. Rising Harmony.
Clearing the Way
On February 25th, Reuters discussed U.S. and E.U. efforts to forge an agreement on the crossborder recognition of derivatives clearinghouses. Recognition.
Position Limits Comment Period Reopened
On February 24th, the CFTC reopened until March 28, 2015, the comment periods for its two proposed position limit rulemakings in anticipation of questions and comments arising from the February 26, 2015 Energy and Environmental Markets Advisory Committee meeting. CFTC Press Release.