New guidance from the main US regulator of privately negotiated derivatives is set to test the business models of interdealer brokers, who have long played a crucial intermediary role between global banks. FT: CFTC to Shake Up US Swaps Trading Market<\/a>.<\/p>\n Newly-issued guidance from the CFTC has given the nod to an agency-style business model for dealers in over-the-counter derivatives that will dramatically alter the way banks interact with clients and profit from swaps trading. IFR Asia: CFTC Opens Door to Agency Bank Swaps Model<\/a>.<\/p>\n Leading US markets regulator Gary Gensler used his last speech to an annual conference of interdealer brokers to defend his agency’s controversial swaps rules. FT: Gensler Defends Swaps Rules Shake-Up. FT: Gensler Defends Swaps Rules Shake-Up<\/a>.<\/p>\n A memo on financial trades from the Commodity Futures Trading Commission prompted blowback from the Republican chairman of the House Financial Services Committee, who on Friday warned the agency missive would bring economic uncertainty to the market. The Hill: Swap Guidance Draws GOP Rebuke<\/a>.<\/p>\n The CFTC issued a slew of new guidance and rules last week, two of them particularly interesting and impactful. Kevin On The Street: Impartial Access: The CFTC Isn’t Messing Around This Time<\/a>.<\/p>\n The CFTC has come out strongly in defense of the open, impartial nature of SEFs, emphasizing fairness, impartiality and transparency. Fidessa's Regulation Matters blog: Keeping SEF Doors Open<\/a>.<\/p>\n Sefs "have to come into compliance" with Dodd-Frank rules requiring platforms to provide impartial access, says CFTC chairman. Risk: Bloomberg, MarketAxess, Tradeweb Not Complying with Sef Rules – Gensler<\/a>.<\/p>\n The U.S. Commodity Futures Trading Commission (CFTC) unveiled its new weekly swaps report on Wednesday, as part of a series of mandates to reign in the multitrillion-dollar derivatives market.<\/p>\n The CFTC yesterday released its inaugural weekly swaps report, an important step in fulfilling its mandate to bring transparency to derivatives markets. Regulatory Reform blog: CFTC Swaps Report- Mission Accomplished-‘ish..<\/a><\/p>\n The largest Wall Street banks are mobilizing to fight a new policy by the U.S. Commodity Futures Trading Commission that gives the regulator broader authority in overseas derivatives deals. Bloomberg: Wall Street Pushes Back on CFTC’s Advisory for Overseas Swaps<\/a>.<\/p>\n European Union regulators accused the U.S. Commodity Futures Trading Commission of reneging on a trans-Atlantic pact on swaps regulation, saying new curbs on EU-based units of U.S. banks clash with efforts to align rules. Bloomberg: <\/b>EU Says Gensler Swaps Rule Clashes With Trans-Atlantic Pact<\/a>.<\/p>\n For those who feared that the derivatives industry had had its fill of regulatory debate, there is still plenty of fodder for discussion as the process of Dodd-Frank implementation rolls on. Tabb Forum: Derivatives Reform Is a Thorny Rose<\/a>.<\/p>\n Lawmakers in both parties are lining up questions for Timothy Massad, who has been tapped by the president to oversee a key financial regulator. The Hill: Obama Nominee a Mystery Man on Hill<\/a>.<\/p>\n It has been five years since Lehman Brothers collapsed and longer since the US subprime bubble burst. Yet plans to reform Fannie Mae and Freddie Mac – the government-sponsored behemoths that underwrite the US housing market – are little nearer to completion. FT: Winding Down Fannie and Freddie<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The CFTC CFTC to Shake Up US Swaps Trading Market New guidance from the main US regulator of privately negotiated derivatives is set to test the business models of interdealer … <\/p>\n\n\tCFTC Opens Door to Agency Bank Swaps Model<\/h4>\n
\n\t <\/span>Gensler Defends Swaps Rules Shake-Up<\/h4>\n
\n\tGary Gensler's Remarks – CFTC Press Releases<\/h4>\n
\n
\n\tSwap Guidance Draws GOP Rebuke<\/h4>\n
\n\tImpartial Access: The CFTC Isn’t Messing Around This Time<\/span><\/h4>\n
\n\tKeeping SEF Doors Open<\/span><\/h4>\n
\n\tBloomberg, MarketAxess, Tradeweb Not Complying with Sef Rules – Gensler<\/h4>\n
\n\tCFTC Unveils New Weekly Swaps Report<\/span><\/h4>\n
\n
\n\tCFTC Swaps Report- Mission Accomplished-‘ish..<\/h4>\n
\n\tWall Street Pushes Back on CFTC’s Advisory for Overseas Swaps<\/span><\/h4>\n
\n\t <\/b>EU Says Gensler Swaps Rule Clashes With Trans-Atlantic Pact<\/h4>\n
\n\tOther US Regulation<\/b><\/h3>\n
\n\tDerivatives Reform Is a Thorny Rose<\/h4>\n
\n\tObama Nominee a Mystery Man on Hill<\/h4>\n
\n\tWinding Down Fannie and Freddie<\/span><\/h4>\n