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External Meetings: SEC/CFTC Meeting with MFA

When:
8/31/2010 1:00 PM
Rulemaking(s):
V. Capital & Margin

VII. DCO Core Principles

XXVI. Position Limits
CFTC Staff:
John Rothenberg
Visitor(s):
Kim Rozman (HBK Capital Management)

Eric Jacobs (King Street Capital Management)

David Rubenstein (Blue Mountain Capital Management)

Stuart Kaswell (MFA)

Adam Cooper (Citadel)

Robert Cox (Brevan Howard)

Lee Grinberg (Elliott Associates)

David Moss (P.E. Shaw Group)

Jennifer Han (MFA)

Carlotta King (MFA)

James Brigagliano (SEC)

Micke Macchiaroli (SEC)

Tom Eady (SEC)

Peter Curley (SEC)

Joshua Kans (SEC)

Michael Hershaft (SEC)

Scott Bauguess (SEC)

Nancy Burke-Sanow (SEC)

Catherine Moore (SEC)

Molly Kim (SEC)

Cristie March (SEC)

Babback Sabahi (SEC)

Randall Roy (SEC)

Tory Crane (SEC)

Jeffrey Dinwoodie (SEC)

Joseph Furey (SEC)

Ling Yu (SEC)

Iliance Lundlbud (SEC)

Darren Vieira (SEC)

Marta Chaffe (SEC)

Tom McGowan (SEC)

David Labhart (SEC)

Norm Champ (SEC)

Adam Yonce (SEC)

Christine Sibille (SEC)

Leah Mesfin (SEC)

Matt Reed (SEC)

Jennifer Marietta-Wertberg (SEC)

Jennifer McCarthy (SEC)

Kris Easter (SEC)

Organization(s):
MFA
  • "The MFA is a hedge fund trade group who's constituency is primarily single manager hedge funds. The following topics were discussed: (1) The definition of Swap Dealer and Major Swap Participant. The MFA concerned about how broadly Swap dealer can be interpreted. They are hoping only institutions that engage in a more traditional dealer capacity will be labeled as Swap Dealer and tests were discussed that might identify what parties act in this dealer capacity. The concept of ""bright line"" tests for Swap Dealers and Major Swap Participant were discussed; (2) Clearing and Confirmation. The discussion focused on confirmation and clearing in the credit derivative space. The MFA is largely in favor of central clearing. They would like the margin regime to be clear and transparent with additional ownership to collateral established. The requirements for becoming a clearing member were also talked about; (3) SEFs and Transaction Reporting. The structure of SEFs were discussed in regards to innovation and quote gathering. Transaction reporting and the concept of a block trade were addressed as well."

See Also:

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