A proposal to divvy up margin payments of individual swaps users at clearinghouses rather than allowing accounts to be treated as one pool by banks representing multiple customers may make guaranteeing trades too expensive, a U.S. commodity regulator said today.
The U.S. Commodity Futures Trading Commission isn’t keeping up with high-speed derivatives trading and needs to invest in tools to detect manipulative and disruptive practices, said Scott O’Malia, a Republican commissioner.
The U.S. Commodity Futures Trading Commission is overreaching in its Dodd-Frank Act rulemaking, undermining efforts to provide certainty to the swaps market, according to Scott O’Malia, a Republican commissioner.
The U.S. Commodity Futures Trading Commission is fixating childishly over Dodd-Frank Act rules while ignoring its traditional responsibility for overseeing futures markets, Commissioner Scott O’Malia said today.
Bank-to-bank trading in private derivatives will have to be done on systems available to all market users, opening a previously closed arrangement to competition, said Commodity Futures Trading Commissioner Scott O’Malia .
Enforcement lawyers at the U.S. Commodity Futures Trading Commission have dropped a policy of acting without approval to extend investigations, according to Scott O’Malia, a Republican member who opposed the practice.