Introductory phone call to discuss the CFTC's Volcker Rule.

On May 7, 2012, Commission staff participated in a phone conference with representatives from MarketAxess to discuss their views on the key costs associated with the SEF rulemaking, as well as the costs likely to result from the major differences between the SEF and SB-SEF proposals.

On May 7, 2012, Commission staff participated in a phone conference with representatives from Bloomberg to discuss the likely initial and ongoing costs of operating a SEF. Bloomberg also identified several provisions that they believe are likely to be significant cost drivers.

On May 9, 2012, Commission staff participated in a phone conference with representatives from Tradweb to discuss the likely initial and ongoing costs of operating a SEF.  Tradeweb also identified several provisions that they believe are likely to be significant cost drivers.

Participants discussed Margin and Capital Requirements for Covered Swap Entities.

Participants discussed the retail FX provisions of the CEA, as well as the CEA definition of FX Forward, as they relate to certain FX transactions related to foreign securities purchases.

Discussed the CFTC's Volcker Rule, focusing on market-making and hedging permitted activities.


 


Also discussed other portions of the CFTC's rule.

On February 4, 2011, at 9:30am, a meeting was held with Barclays Capital in which they presented concerns regarding SEF registration and real time reporting.

On February 4, 2011, at 10:15am, a meeting was held with FXall and others in which they presented concerns regarding conflicts of interest for DCOs, DCMs, and SEFs.

On February 11, 2011, at 1pm, a meeting was held with SIFMA and others in which they presented concerns regarding SEF and SDR registration and real time reporting.