Dodd-Frank Act
Commodity derivatives lead the way for OTC reform
Enron proved merits of bottom-up evolution, not change imposed from above
Dodd-Frank reporting lets traders prey on hedgers
The US Dodd-Frank Act has foisted transparency on derivatives markets by requiring the public reporting of over-the-counter trades. But some end-users are crying foul, as the new rules cast a spotlight on the once-hidden execution of their hedging…
‘Over-broad’ CFTC rules hurt end-users, Giancarlo says
Chris Giancarlo, the sole Republican on the US Commodity Futures Trading Commission, says Dodd-Frank rules are failing energy firms, farmers and other hedgers. In an exclusive interview with Alexander Osipovich, he urges a rethink of the agency’s…
Energy traders mine Dodd-Frank data for market insight
Public data feeds required by the US Dodd-Frank Act are offering banks and energy trading firms a window into transactions taking place in uncleared over-the-counter commodity derivatives
CFTC chairman vows to 'get it right' on position limits
Chairman seeks to reassure farmers worried about bona fide hedge exemptions in proposed position limits rule
CFTC slammed for using ‘ancient’ position limits data
Energy firms are criticising the CFTC's proposed rule on commodity derivatives position limits under Dodd-Frank, saying it relies on decades-old data to set spot-month limits
CFTC’s Giancarlo slams automatic cut to dealer threshold
Republican commissioner Chris Giancarlo is calling for the CFTC to hold a "proper vote" and seek industry input before de minimis threshold is slashed from $8 billion to $3 billion in 2017
US airline wins Dodd-Frank real-time reporting delay
CFTC no-action letter giving Southwest Airlines and its dealers extra time to report hedging trades in long-dated oil may lead to broader relief for other hedgers in illiquid markets
Financial entity definition worries US utilities
US utilities fret their trading units could be classified as financial entities under Dodd-Frank, forcing them to clear all their OTC derivatives and face other regulatory requirements
CFTC chairman offers hope to derivatives end-users
Timothy Massad, the new chairman of the US Commodity Futures Trading Commission, seems to be steering the agency towards a more deliberate and pragmatic approach to Dodd-Frank regulation
Energy firms voice optimism over CFTC's Massad
The new chairman of the US Commodity Futures Trading Commission is moving to fix regulatory problems afflicting energy firms and says he will listen closely to their input on the agency's remaining Dodd-Frank Act rules. The shift is being welcomed by the…
CFTC’s Giancarlo set to revive energy advisory committee
CFTC's revamped Energy and Environmental Markets Advisory Committee will focus on impact of Dodd-Frank regulations on US energy companies, Giancarlo says
CFTC's Wetjen urges fix to commodity options problem
CFTC commissioner says seven-part test on definition of a swap under Dodd-Frank "was not specific enough or clear enough" for industry participants
CFTC close to fixing Dodd-Frank commodity option woes
The Commodity Futures Trading Commission is said to be exploring solutions for the so-called 'seventh prong' problem created by its definition of a swap under the Dodd-Frank Act
Energy companies facing ‘intrusive’ CFTC special calls
The US Commodity Futures Trading Commission is stepping up its market surveillance activities, issuing special calls to numerous firms that trade over-the-counter swaps. That is causing headaches for smaller energy companies tangled up in the dragnet…
OTC energy derivatives did not cause the crisis
Over-the-counter derivatives were blamed for the financial crisis, but now the conversation must turn to finding solutions, not apportioning guilt
US energy firms cheer regulators’ shift on margin rule
In an about-face, the Fed and other bank regulators exempt non-financial end-users from requirement to post margin on non-centrally cleared swaps
CFTC quietly amassing data on natural gas swaps
Numerous energy companies have received special calls from the CFTC in the past year, say lawyers, but the reasons for the agency's interest remain murky
Energy firms rely on patched-up solutions for reporting
Under new rules in Europe and the US, energy firms have to aggregate trade data from a variety of internal sources and report it to repositories. While it was hoped this process could lead to wider improvements in analytics, risk management and…
Energy firms fight for right to hedge at portfolio level
CFTC position limits rule could limit the ability of energy firms to hedge, unless they aggregate commodity derivatives positions held across disparate business units
Commodity desks breathe sigh of relief over Volcker
US banks say their initial concerns over the Volcker rule of Dodd-Frank have turned to relief, as the rule's drafting allows them to continue making markets in commodity derivatives
CFTC position limits rule blasted by commodity merchants
Vitol, Louis Dreyfus and other commodity trading firms say the proposed bona fide hedge exemptions in the CFTC's revived position limits rule are too narrow and discriminate against merchants
Dodd-Frank swap dealer rules tricky, says Cargill compliance head
A lack of guidance on the swap dealer provisions of the US Dodd-Frank Act is turning compliance into a guessing game for swap dealers such as Cargill Risk Management, suggests the firm's chief compliance officer in a video interview
Commodity traders won’t replace banks, says Citi’s Staley
Citi head of global commodities “doesn’t lay awake at night awaiting a full-scale assault” from non-bank companies, such as oil majors and commodity trading houses