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US Derivatives

  • 09-04-2010 5:38pm
    #1
    [Deleted User]
    Posts: 5,589 ✭✭✭


    Not sure whether anyone can help me here but which body in the US covers the regulation of derivatives? The SEC? CBOE?

    Any help would be appreicated!


Comments

  • #2
    silverharp
    Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    Deleted User wrote: »
    Not sure whether anyone can help me here but which body in the US covers the regulation of derivatives? The SEC? CBOE?

    Any help would be appreicated!

    The CFTC oversees derivative trading on futures exchanges. However the OTC market is basically unregulated. The SEC would however regulate the firms involved but as far as derivatives are concerned it would only be of a disclosure nature. Hope this helps

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • #3
    Carawaystick
    Registered Users, Registered Users 2 Posts: 8,779 ✭✭✭Carawaystick


    What do you mean by derivatives?

    They're a part of maths. Involving rates of change. I;d hope no govt woud give a sh1t. I know some southern state made a law incorrectly defining Pi for a while -- Is that the kind of madness you're on about?


  • #4
    Maximilian
    Legal Moderators, Society & Culture Moderators Posts: 5,400 Mod ✭✭✭✭Maximilian


    Carawaystick wrote: »
    What do you mean by derivatives?

    They're a part of maths. Involving rates of change. I;d hope no govt woud give a sh1t. I know some southern state made a law incorrectly defining Pi for a while -- Is that the kind of madness you're on about?

    I tempted to make a comment about racial integration,


  • #5
    skyhighflyer
    Closed Accounts Posts: 1,147 ✭✭✭skyhighflyer


    Silverharp2 wrote: »
    The CFTC oversees derivative trading on futures exchanges. However the OTC market is basically unregulated. The SEC would however regulate the firms involved but as far as derivatives are concerned it would only be of a disclosure nature. Hope this helps

    Silverharp has it. There have been rumblings in the US for years about regulation of OTC derivatives, but it took the credit crisis to galvanise the SEC into taking concrete action. Some sort of SEC regulation of OTC derivatives is definitely on the cards in the medium term.

    Beyond that, you have ISDA, which is the global trade association for OTC derivatives market participants. They have gone ahead with some market side reforms of their own, particularly in respect of the credit derivatives that were widely blamed for exacerbating the financial crisis. For example, they are laying the foundation for central clearing of OTC credit derivatives and have established an auction settlement process for credit default swaps to lessen the market impact of a large-scale default.


  • #6
    [Deleted User]
    Posts: 5,589 ✭✭✭ [Deleted User]


    Thanks guys. Any sources for the SEC stepping in?


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