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By Matt Cameron and Peter MadiganPublished October 25 2011 RiskThe European Central Bank (ECB) has warned in a letter to the Commodity Futures Trading Commission (CFTC) that it might have to stop trading over-the-counter derivatives with US counterparties if it – and other eurozone central banks – are not granted exemptions from clearing, execution and reporting elements of the Dodd-Frank Act. The ECB also wants to be exempt from proposed rules on margining for uncleared trades.full article (subscription)
By Sarah N. LynchPublished July 1 2011 Reuters
U.S. securities regulators gave more clarity on Friday on how they will temporarily shield the swaps industry from Dodd-Frank rules scheduled to automatically take effect on July 16.
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By Nikki Tait Published July 5 2011 Financial Times
European lawmakers said on Monday that they would leave open for a few more months the possibility of reaching a deal on new European Union rules for over-the-counter derivatives with member states.
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Published June 30 2011 Reuters
The U.S. futures regulator said on Thursday it will hold its next rule-making meeting on July 7 as it commences the arduous task of finalizing nearly 50 measures tied to the Dodd-Frank legislation.
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The rigid regulatory climate may have some on Wall Street feeling a bit uneasy these days, but at least one regulator is probably winning fans with a plan that may save banks billions in the long run.
A new venture is underway to make it easier to communicate collateral requirements electronically, which will be a key part of a more active market for clearing and trading over-the-counter derivatives.
A proposal by regulators to limit the voting power that certain companies like banks wield in derivatives clearing and trading ventures may not have the teeth some industry officials once feared.
U.S. regulators should define a new way of trading derivatives more broadly than any existing exchange or system so that requirements mandated by financial reform are as flexible as possible, according to Wall Street’s swap industry and lobbying group.
Buyers of over-the-counter credit derivatives will now have access to multiple clearing houses via a new platform from MarkitSERV, the company announced on Wednesday.
Banks and major swaps users would be limited to owning no more than 20 percent of derivatives clearinghouses, exchanges and trading systems, under a proposal by the Commodity Futures Trading Commission.
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