News Centre

Statement Of CFTC Commissioner Mark P. Wetjen On The Proposed On Cross Border Margin (Washington, DC)

Date 29/06/2015

Today’s release lays out a proposed framework for the application of the commission’s margin rules to un-cleared swaps (the “Margin Rule”) in cross-border transactions. Interestingly, the release states that there was no consensus among those who filed comments in response to the commission’s Advance Notice of Proposed Rulemaking (“ANPR”) last fall, which laid out three alternative, cross-border approaches: the Guidance Approach, the Prudential Regulators’ Approach, and the Entity Approach. To the extent, therefore, that the release was designed to identify a consensus view concerning which of these three approaches was best, it failed.

EU-China Joint Statement On Climate Change

Date 29/06/2015

1. The EU and China (hereinafter referred to as 'the Two Sides') recognise their critical roles in combating global climate change, one of the greatest threats facing humanity. The seriousness of the challenge calls upon the two sides to work constructively together for the common good, in the context of sustainable economic and social development.

Concurring Statement Of CFTC Commissioner Sharon Y. Bowen On Cross Border Margin (Washington, DC)

Date 29/06/2015

I'm pleased to support this new proposed rule on cross-border application of uncleared margin requirements for swap dealers and major swap participants. Margin requirements for uncleared swaps, needless to say, are a core piece of the new regulatory regime we are establishing as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

MGEX Sets Pair Of Top 10 Daily Volume Records

Date 29/06/2015

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), set top 10 daily records in both total volume and electronic volume on Friday. Total volume was the 7th-best ever, coming in at 20,289, while electronic volume finished the day at 18,965, which is 3rd-best on the electronic daily volume charts.

Statement Of CFTC Commissioner J. Christopher Giancarlo On The Proposed Rule On The Cross-Border Application Of The Margin Requirements (Washington, DC)

Date 29/06/2015

The Commission’s proposal for the cross-border application of margin requirements for uncleared swaps is a highly complicated labyrinth. I look forward to the jolt to U.S. economic growth that will occur in the 3rd quarter of 2015 as a result of the thousands of billable hours that will be expended by lawyers and other professionals, who will have to read, interpret and respond to this tangled regulatory construct.

TTIP: MEPs Pave Way For Plenary Vote By Retabling June Amendments

Date 29/06/2015

International Trade Committee MEPs on Monday paved the way for a plenary vote on the European Parliament’s draft recommendations for Transatlantic Trade and investment partnership (TTIP) negotiators, by retabling the June plenary amendments which had been referred back for reconsideration. The committee took the decision in two separate votes –one to retable the plenary amendments, and the other to retable requests for split or separate votes.

European Parliament - Extraordinary Conference Of Presidents Convenes To Discuss Greece

Date 29/06/2015

Today the European Parliament's Conference of Presidents (EP President and political group leaders) discussed the latest situation on Greece with Commission President Jean-Claude Juncker. The Conference of Presidents then discussed the situation further and adopted a position on the immediate next step that should be taken.

European Commission: The EU And China: A Solid Partnership - Speech By President Juncker At The EU-China Business Summit

Date 29/06/2015

Mister Prime Minister, Dear Emma,

I do not know how to apologise, but I had to do what I had to do this morning because we are trying to resolve what we call the Greek crisis in Europe and I had to spend some hours on that. I would have preferred to be together with the Prime Minister this morning to address the EU-China Business Summit, but it was not possible. So, on my knees, I am apologising to you, but before apologising to you, I am apologising to the Chinese Prime Minister. I wanted to see him as early as possible because I am a great admirer of China. My first official visit in my former capacity as Luxembourgish Prime Minister to China was in 1996 and I went back to the country five, six, or seven times – I do not even remember, but the Chinese secret services must remember how often I was in China. If the Chinese do not know, ask the Americans, because they do know it exactly; because I was always admiring the performances of this great nation, of the leaders of that nation and although from time to time we have divergences on views, mainly as far as human rights are concerned, I was always strongly believing in the capacity of the Chinese nation and of the Chinese leadership to engage with us on common avenues. So I am happy to meet the Chinese Prime Minister in my new capacity after having met the Chinese President back in November - if I remember it correctly- in the margin of the G20 meeting in Brisbane, Australia.

Irish Stock Exchange's New Service For ISIN Applications Is Now Live On www.isedirect.ie

Date 29/06/2015

The Irish Stock Exchange (ISE) commences its new online application process for International Security Identification Numbers (ISINs) today through its secure and easy to use online portalwww.isedirect.ie.

Statement Of CFTC Chairman Timothy G. Massad On Cross Border Margin (Washington, DC)

Date 29/06/2015

Thank you all for calling in today. Before I begin, I want to let you know that I have CFTC staff members Carlene Kim and John Lawton joining me today on the call.

Today the Commission voted unanimously to issue a proposal on the cross-border application of our previously proposed rules on margin for uncleared swaps. I thank my fellow commissioners for their work and input on this proposal, and I also want to thank our staff for their hard work.