For Release: March 14, 2006
Washington, D.C. – More than 20 futures industry regulators from around the world will assemble on March 15, 2006, to discuss issues involving clearing, competition, and cross border trading at a meeting hosted annually by the U.S. Commodity Futures Trading Commission. Participants will include regulators from: the Canadian provinces of Manitoba, Ontario, and Quebec; China; France; Germany; India; Ireland; Italy; Japan; Korea; Mexico; the Netherlands; Singapore; Spain; Switzerland; Taiwan; Thailand; United Kingdom; and the United States.
Participants will address such timely questions as:
Should regulators define, influence, or otherwise affect the market structures of clearing houses and governance structures of exchanges to achieve the regulatory objectives of fair, competitive, efficient and systematically sound markets?
To what extent, if any, should derivatives regulators police anticompetitive behavior, review exchange mergers, and oversee intellectual property disputes?
What are industry views on facilitating cross border business including: the use of omnibus accounts and/or give-up relationships; the global challenges of e-trading; and how diverse rules globally cause client confusion regarding the status of their accounts with brokers?
Additionally, regulators from Canada, Japan, China, and Mexico will discuss issues related to access to these markets by foreigners, as well as recent changes and developments in laws and regulations.
Commenting on the meeting, CFTC Chairman Reuben Jeffery III, said:
“The Commission is extremely pleased to provide this opportunity for international futures industry regulators to discuss issues of pressing importance. In today’s global marketplace, it is increasingly critical that regulators consider issues of common concern and discuss regulatory approaches to address those concerns. This meeting provides an excellent forum for the beneficial exchange of ideas.”
R. David Gary
Last Updated: March 18, 2007