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Communiqué Of The Twenty-Sixth Meeting Of The International Financial And Monetary Committee (IMFC) - Chaired By Mr. Tharman Shanmugaratnam, Deputy Prime Minister Of Singapore And Minister For Finance

Date 13/10/2012

Global growth has decelerated and substantial uncertainties and downside risks remain. Key policy steps have been announced, but effective and timely implementation is critical to rebuild confidence. We need to act decisively to break negative feedback loops and restore the global economy to a path of strong, sustainable and balanced growth. Advanced economies should deliver the necessary structural reforms and implement credible fiscal plans. Emerging market economies should preserve or use policy flexibility as appropriate to facilitate a response to adverse shocks and support growth.
CFTC’s Division of Swap Dealer and Intermediary Oversight Issues Time-Limited No-Action Letter Regarding the Treatment of Agricultural and Exempt Commodities in Making Calculations for Purposes of the Swap Dealer and Major Swap Participant Definitions

Date 13/10/2012

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter regarding the treatment of agricultural and exempt commodities in making calculations for purposes of the swap dealer and major swap participant definitions.
Statement By U.S. Treasury Secretary Tim Geithner To The Development Committee

Date 13/10/2012

This marks the eighth meeting of the Development Committee since President Obama took office in 2009. The past four years have seen a record of results for all of us, as partners in the World Bank.
CFTC Division Of Swap Dealer And Intermediary Oversight Issues Letter Providing Time-Limited No-action Relief With Respect To Foreign Exchange Forwards And Foreign Exchange Swaps

Date 13/10/2012

Today, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight is issuing a letter providing time-limited no-action relief from the obligation to include any foreign exchange swap or foreign exchange forward for purposes of determining if a person is a major swap participant, or the calculation to determine if an entity is a swap dealer if the Secretary of the Treasury determines at a later date to exempt such swaps or forwards from the definition of the term “swap” under the Commodity Exchange Act (“CEA”).
Statement By U.S. Treasury Secretary Tim Geithner At The International Monetary And Financial Committee (IMFC) Meeting

Date 13/10/2012

Although the world economy is expanding and progress has been made since the peak of the crisis, we still face a complicated mix of challenges to achieving stronger global economic growth. The nature of the challenges differs across countries and regions, but what is common to us all is the challenge of creating the conditions for stronger demand growth.

CME Group Issues A Market Regulation Advisory Notice For CME ClearPort - Correction

Date 13/10/2012

CME Group, the world's leading and most diverse derivatives marketplace, released a Market Regulation Advisory Notice today about CME ClearPort.
CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues Interpretative Letter Regarding Scope Of Bona Fide Hedging Exemption For Registered Investment Companies

Date 12/10/2012

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight today issued an interpretative letter that clarifies, in light of the recent court decision regarding the Commission’s position limits rule, the scope of the bona fide hedging exemption from the trading thresholds as applied to registered investment companies pursuant to Commission Regulation 4.5.
CFTC Division Of Swap Dealer And Intermediary Oversight Issues No-Action Letter Regarding the De Minimis Threshold For Swaps With Utility Special Entities

Date 12/10/2012

Today, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight is issuing a letter providing temporary no-action relief from certain requirements in the de minimis exception from the definition of the term swap dealer. The no-action relief would allow non-financial entities that are active in the physical energy markets to deal in swaps with publicly-owned, government-owned or federal agency utilities with an aggregate gross notional amount of up to $800 million per year, and not be required to register as swap dealers.
Statement Regarding Commission Relief Allows CME Market Participants To Transition Trading Activity Under More Reasonable Timeline, CFTC Commissioner Scott D. O’Malia

Date 12/10/2012

Today the Commission has issued relief to energy and agriculture commodities traders to allow them to transition to futures markets and provide relief until the end of the year from counting their positions in exempt and agricultural products in determining whether or not they qualify as a swap dealer. Despite coming at the 11^th hour, I am supportive of providing this relief as broad new Dodd-Frank regulations come into effect today. This relief will allow market participants in the CME market to transition their trading activity to futures markets under a more reasonable timeline. The fact that market participants are fleeing the Commission’s swap regulations is proof that the Commission has not developed clear and cost-effective rules. I will work to ensure that there is a smooth transition for market participants. The Commission must proceed in a reasonable manner to accommodate this transition to the futures markets and continue to serve its fundamental role of hedging commercial risk.
BATS 1000 Index Slides 2.0% This Week

Date 12/10/2012

BATS Global Markets, a leading operator of securities markets in the U.S. and Europe, reports the BATS 1000® Index (Ticker: BATSK) fell 318.82 points, or 2.0%, this week to close at 15,972.23 as of 4 p.m. ET today. The ten sectors that comprise the index declined for the week led by a 3.3% drop in Technology and Communications. Utilities lost the least falling 0.9%.