Japan Launches LNG Futures Contract

Japan plans to launch the world’s first futures contract for liquefied natural gas, also known as LNG. This marks the country’s latest step toward creating a global market for fuel. As the U.S. increases its exports of fuel, the global market demand for LNG —a chilled and exportable form of...

CFTC, Foreign Regulators Issue Joint Statement on OTC Derivatives

The U.S. Commodity and Futures Trading Commission (CFTC) issued a joint statement with foreign regulators today that outlines plans for cross-border rules. The joint statement was signed by regulatory leaders from Australia, Brazil, the European Union, Hong Kong, Japan, Canada, Singapore, and...

CFTC Inundated With Swap Rule Comments

As the comment period for a rule on the extraterritorial application of Dodd-Frank-mandated swap rules draws to a close, the CFTC is receiving a large volume of comments on the rule, the majority of them critical. Although the agency issued interpretive guidance on June 29 that waters down the rule by...

New Swap Rules Draw Concern from Foreign Regulators

Regulators from the European Union and the U.K. urged the U.S. to delay new rules concerning swap contracts and to reconsider how the rules apply to foreign banks and transactions, a predicament called extraterritoriality. The concern adds to a host of complaints stemming from foreign regulators in Japan,...

BOJ may ramp up fiscal policy actions

Bank of Japan policy makers are prepared to consider expanding an emergency-loan program for banks and increasing purchases of government debt should the recovery falter, people with knowledge of the matter said. “Should a rise in the yen threaten to damp corporate and consumer sentiment and exacerbate...

Establishment of the Chiang Mai Initiative Multilateralization

From Release: 1. The Finance Ministers and Central Bank Governors of the ASEAN Members States, China, Japan and Korea (ASEAN+3) and the Monetary Authority of Hong Kong, China, are pleased to announce the signing of the Chiang Mai Initiative Multilateralization (CMIM) Agreement following the conclusion on all...

CFTC no-action letter permits offer and sale of the mini-TOPIX futures contract

The CFTC issued a no-action letter permitting the offer and sale in the United States of the mini-TOPIX futures contract, TOPIX Core30 futures contract and TSE REIT index futures contract. Mini-TOPIX futures contract is one-tenth the size of TOPIX futures contract, and allows investors to have smaller...

FSA plans to set leverage limits on retail Forex

Japan’s Financial Services Agency is planning to set limits on how much foreign-exchange investors can buy on margin. The FSA unveiled a plan to curb speculative trading in two stages, in order to spread out and neutralize any market impact. The plan calls for the leverage cap to be set at 50 times the...

CFTC grants TFX member firms exemption from certain Part 30 regulations

Pursuant to Commission Regulation 30.10, CFTC grants certain exemptions to firms designated by the Tokyo Financial Exchange, Inc. (TFX) from the application of certain foreign futures and option regulations based upon substituted compliance with applicable Japanese law and TFX regulations. See the October...