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External Meetings: Meeting with Roundtable of Swap Dealers

When:
9/27/2010 2:00 PM
Rulemaking(s):
II. Definitions

VI. Segregation and Bankruptcy

XV. Rule Certification

CFTC Staff:
Gary Gensler

Yousuf Siddiqui
Visitor(s):
Corrado Camera, U.S. Mission to the EU

Tim Gateley, Citigroup

Alexander White, JP Morgan

Jennifer Cosco, Goldman Sachs

Susan Lambert, Barclays

Nick Miller, Morgan Stanley
Organization(s):
Citigrouop

JP Morgan

Goldman Sachs

Barclays

Morgan Stanley
  • The meeting was held at the headquarters of the US-EU building in Brussels, Belgium. Topics discussed include:~-Description of the Dodd-Frank Act, as well as the rulemaking process, including the importance of consultation with industry and cooperation with regulators internationally.~-Certain participants had questions regarding the rules on client asset protection/segregation applicable to derivatives clearing organizations (DCOs).~-Certain participants were interested in determining whether RFQs would be included within the scope of swap execution facilities (SEFs).~-Participants wanted to know more about how valuation and market-to-market requirements would be implemented.~-Participants expressed that governance and risk methodologies were a concern with regard to choosing DCOs that are sufficiently robust for clearing swaps.~-Chairman Gensler and participants emphasized the need for a consistent approach to swap regulation between the US, Europe and other jurisdictions.

See Also:

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