REGIONAL CONFERENCES
New York and London events kick off Regional Conferences
The first two in the series of the 2009 ISDA
Regional Conferences were held on September
15 in New York and September 24 in London.
The Regional Conferences are one-day events
designed to update ISDA members on the
efforts made by the industry, and of course, as
an opportunity to catch up with peers. Keynote
addresses came from US Representative Scott
Garrett in New York and European
Parliament Monetary Affairs Chairman Sharon
Bowles in London.
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REGULATORY
House Agriculture Committee hearings
In the first of two scheduled hearings on September 17, derivatives end-users and industry
professionals spoke before the House Agriculture Committee. Committee Chairman Collin
Peterson (Minn.) opened with concerns over the treatment of end-users in a regulatory
overhaul, and many Committee questions focused on how end-users that do not pose
systemic risk and are use derivatives for legitimate hedging can fit into an exemption.
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REGULATORY
Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) held a meeting of its Energy and
Environmental Markets Advisory Committee on September 16, with ISDA CEO Robert
Pickel participating. The meeting focused on position limits, legislative proposals and
carbon markets. In response to the many participants’ comments regarding the need
for limits in the OTC markets, Mr Pickel highlighted some of the operational problems
associated with such a regime in customized OTC markets. He suggested that position
limits could be workable in the “look-alike” contract space, but that it would be difficult to
establish position limits in the bilateral space.
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