Bart Chilton says he’ll leave the U.S. Commodity Futures Trading Commission next week after almost seven years of pushing for limits on oil and natural gas speculation, as well as curbs on algorithmic and high-frequency trading.
The Volcker rule that U.S. regulators are trying to complete this year doesn’t do enough to limit banks’ ability to make speculative bets, said Bart Chilton, a member of the U.S. Commodity Futures Trading Commission.
With the shutdown of Tokyo-based Mt. Gox, once the world’s largest exchange for digital currency transactions, other companies in the Bitcoin universe worked to defend the nascent industry’s reputation.
U.S. regulators should review CME Group Inc.’s plan for blocking wash trades to ensure that it sufficiently restricts the illegal transactions, said Bart Chilton, a member of the Commodity Futures Trading Commission.
Timothy Massad, the Treasury Department official named to head the U.S. Commodity Futures Trading Commission, said he would work to approve speculation limits in oil, natural gas and other commodities that have been resisted by banks and parts of the energy industry.
Proposed regulations aimed at halting volatile trading in U.S. securities markets may still allow for market disruptions and expose regulators to a backlash, said Bart Chilton, a member of the Commodity Futures Trading Commission.
Regulation of international commodities markets will control price volatility and benefit consumers by making trading more efficient and effective, said Bart Chilton, a commissioner at the U.S. Commodity Futures Trading Commission.
The main U.S. derivatives regulator came under pressure to limit the cross-border impact of new swaps rules and delay them for six months from overseas regulators as well as Democratic and Republican members of the Commodity Futures Trading Commission.