News Centre

Statement Regarding District Court Ruling On ISDA/SIFMA Position Limits Lawsuit

Date 28/09/2012

“ISDA and SIFMA are pleased with today’s ruling by the D.C. District Court in their suit against the Commodity Futures Trading Commission’s (CFTC) final rule that limits the positions that investors may own in certain commodities. The Court’s ruling today vacates the rule and remands it back to the CFTC.  The position limits rule would adversely impact commodities markets and market participants, including end-users, by reducing liquidity and increasing price volatility. On behalf of our members in the U.S. and around the world, we are pleased that the rule has been vacated and sent back to the CFTC for reconsideration. We are committed to working with the Commission and other regulators to promote safe, efficient markets.”

NYSE Announces Fourth-Quarter 2012 Circuit-Breaker Levels

Date 28/09/2012

The New York Stock Exchange will implement new circuit-breaker collar trigger levels for fourth-quarter 2012 effective Monday, October 1, 2012.

Response To BCBS Consultative Document, Fundamental Review Of The Trading Book

Date 28/09/2012

ISDA’s Risk Management Team works with members, regulators and policy makers to develop rules which ensure that appropriate, prudent and risk sensitive capital charges are applied uniformly to the various financial risks faced by the industry. The group continually seeks to define best practice in each area and assist all stakeholders in achieving this.

Statement Of CFTC Chairman Gary Gensler On Position Limits

Date 28/09/2012

• “As part of the Dodd-Frank Act, Congress directed the Commission to impose limits on speculative positions in physical commodity futures and options contracts and economically equivalent swaps. The Rule addresses Congress’ concern that that no single trader is permitted to obtain too large a share of the market, and that derivatives markets remain fair and competitive. I believe it is critically important that these position limits be established as Congress required. I am disappointed by today’s ruling, and we are considering ways to proceed.”

ISDA Response To BCBS And IOSCO Consultative Document On Margin Requirements For Non-Centrally-Cleared Derivatives

Date 28/09/2012

Click here to download ISDA's response to BCBS and IOSCO consultative document on Margin requirements for non-centrally-cleared derivatives.

SEC Charges Financial Executive In Minnesota With Diverting Company Dollars To Pay Unauthorized Entertainment Expenses

Date 28/09/2012

The Securities and Exchange Commission today charged the former chief financial officer of a Minnetonka, Minn.-based manufacturer of computer networking devices for secretly diverting company funds to cover unauthorized personal expenses and other employees’ entertainment expenses that lacked any legitimate business purpose.

CFTC.Gov Commitments Of Traders Reports Update

Date 28/09/2012

The current reports for the week of September 25, 2012 are now available.

ISDA Comments On The Recommendations Of The UK’s Financial Services Authority On Libor

Date 28/09/2012

The International Swaps and Derivatives Association, Inc. (ISDA) fully supports the view of, and recommendation by, the Financial Services Authority to comprehensively reform Libor, rather than replacing it.  As outlined in our response to the Wheatley Review on September 7, ISDA believes that economically Libor continues to be hugely relevant to, and necessary for the proper functioning of, the OTC derivatives market and the underlying markets to which the derivatives relate. 

Federal Court Orders Martin B. Rosenthal To Pay $1.2 Million For Aiding And Abetting The Making Of False Statements To The NFA, Failing To Register As A Commodity Trading Advisor, And Violating A Previous CFTC Order

Date 28/09/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a federal court order requiring Martin B. Rosenthal of Fort Lauderdale, Fla., to pay a civil monetary penalty of $598,000 and disgorgement of $598,000 for aiding and abetting the willful concealment of material facts and the making of false statements to the National Futures Association (NFA), violating a previous CFTC order, and acting as an unregistered Commodity Trading Advisor (CTA). The order also imposes permanent trading and registration bans against Rosenthal and permanently prohibits him from further violations of the Commodity Exchange Act, as charged.

European Commission Statement On The Publication Of Results Of Stress Tests Of Spanish Banks

Date 28/09/2012

The European Commission welcomes today’s publication by the Spanish authorities of the results of the independent valuation of Spanish banks. This is a major step in implementing the financial-assistance programme and towards strengthening the viability of and confidence in the Spanish banking sector.