CFTC Chairman Gary Gensler said on Monday that new rules mandating the margin needed to back uncleared swap trades will be announced early next year. The announcement comes only a day after a U.S. District Court struck down the CFTC’s rule on position limits.
“I would anticipate that the CFTC, in...
The CFTC will set a two-minute time limit for swap dealers to accept or reject trades. The new time limit goes into effect on Oct. 1.
Then, 90 days after the rules are published, the limit will be tightened to one minute.
The new rule comes from an email sent by Ananda Radhakrishnan, CFTC’s director of the...
Speaking in front of European Parliament on Monday, CFTC chairman Gary Gensler addressed the issue of whether LIBOR will survive its recent setbacks.
Gensler, appearing via video feed, was unable to travel to overseas due to four broken ribs and punctured lung from a recent fall. He compared his own injuries...
Posted byElan Mendel
on Sep 17, 2012 in Featured
, Social Media
In the wake of a scandal over the rigging of LIBOR by Barclays and other British banks, the International Organization of Securities Commissions (IOSCO) has created a task force to investigate how the widely used benchmark rate is used and recommend improvements.
The task force will be led by CFTC Chairman...