George Orwell was mostly right in 1984 when he warned us against a Big Brother government that runs every aspect of our lives. What Orwell didn’t foresee was the emergence of other Big Brothers such as Wall Street behemoths facing off an overreaching government. He also couldn’t foresee the mess we’re in because of this… Read More >>
Bloomberg Takes CFTC to Court
Bloomberg is challenging the CFTC in court over a new rule for margining that the media giant says favors futures over swaps. The legal move is seen as an effort to thwart a potential market shift away from swaps transacted via forthcoming swap execution facilities (SEFs) and toward established futures exchanges.Bloomberg, which is laying the… Read More >>
No Valentine’s Day Kiss for SEFs
The CFTC isn’t giving over-the-counter derivatives reform a Valentine’s Day kiss as expected. The regulator has put off a key vote on swap execution facilities (SEFs) until maybe March 1 as, reportedly, it is still working out how SEFs will function. I hope the delay will refocus attention on firms that operationally are not ready… Read More >>
