For Release: March 11, 2009
CFTC Hosts International Regulators to Discuss Futures Industry Issues
Boca Raton, Florida – As part of an annual event, futures industry regulators from Brazil, Canada, China, Dubai, Ethiopia, France, Germany, India, Israel, Italy, Japan, Mexico, The Netherlands, Portugal, Qatar, Singapore, Spain, Sweden, Switzerland, Taiwan, United Kingdom, and the United States will assemble today at an International Regulators Meeting hosted by the U.S. Commodity Futures Trading Commission (CFTC). The theme for this year’s meeting is: “Lessons Learned from Recent Financial Markets Events.”
Panel discussions will address issues that include concerns associated with: the clearing of credit default swaps, market surveillance issues, crisis management – what happens when a global firm fails, and how to regulate hedge fund participation in the markets.
In commenting on the meeting, CFTC Acting Chairman Michael V. Dunn, said:
“The concerns to be discussed in this forum reflect a wide-ranging spectrum of issues whose resolution is of critical importance to ensuring that the world-wide trading of derivatives continues to meet the price discovery and risk transfer needs of market users around the globe.
This is a time of profound change -- change that requires regulators and market participants to respond rapidly to new market structures, new trading technologies, and newly-designed market instruments that are limited only to the imagination of man.
The CFTC is extremely pleased to provide this opportunity for international regulators to discuss these issues in hopes of developing and advancing a regulatory approach that addresses these concerns while not stifling the creative spirit needed to meet the challenges of the future.”
R. David Gary
Last Updated: March 12, 2009