CFTC Priorities at Golden Networking's Derivatives Leaders Forum 2010 as Work Starts on Regulations

July 9, 2010 - PRLog -- The U.S. House of Representatives on Wednesday approved the landmark overhaul of financial regulations, marking the most sweeping rewrite of Wall Street rules since the 1930s a top priority in the wake of the 2007-2009 financial crisis, and the Senate is expected to act on the 2,300-page bill next week. With only a short window to implement the sweeping U.S. financial reform bill, the CFTC has started laying the groundwork for marathon sessions of writing regulations, with priorities to be analyzed at Golden Networking's Derivatives Leaders Forum 2010, "Strategies for Increasing Profits under an Evolving Regulatory Framework" (http://www.DerivativesLeadersForum.com), July 22nd, 2010, New York City, sponsored by UltraHighFrequencyTrading.com.

As reported by Reuters, the new bill will give the CFTC oversight of the $615 trillion over-the-counter derivatives market blamed in part for accelerating the recent financial crisis when taxpayers had to bail out some players who took risks they couldn't afford. The bill requires most swaps to trade through clearing houses, calls for extra capital and margin for certain large players, and gives the CFTC authority to limit positions in certain markets.  The CFTC in January proposed its own position limits rule in the oil and gas futures markets. Chairman Gary Gensler said the CFTC has not determined whether it will have to make changes to its rule to comply with the new bill.

The U.S. Commodity Futures Trading Commission has already created a list of 15 to 20 "topic areas" -- ranging from what types of over-the-counter derivatives must be cleared to rules for swap execution facilities -- that it will be responsible for once the bill is signed into law by President Obama, chairman Gensler said. Ultimately, each topic could have multiple underlying pieces that will require more rules by the CFTC, Chairman Gensler told reporters. Congress will require most components of the swaps portion of the bill to be implemented within a year by regulators such as the CFTC and the U.S. Securities Exchange Commission. The CFTC may choose to publish proposed rules by topic rather than on a rule-by-rule basis, Chairman Gensler said after testifying to the Financial Crisis Inquiry Commission. Some of the rules must be crafted jointly by the SEC and CFTC.

Derivatives Leaders Forum 2010 is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez. Upcoming Golden Networking's Forums and Business Receptions include:

•   High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), July 13th, New York City

•   Distressed Investing Experts Forum 2010, "Analyzing and Valuing Distressed Companies, Securities and Real Estate" (http://www.DistressedInvestingExpertsForum.com), September 23rd, New York City

•   2nd China Leaders Forum, "Challenges and Opportunities for China's Economic Juggernaut" (http://www.ChinaLeadersForum.com), October 7th, New York City

•   Latin America Leaders Forum 2010, "Unlikely Oasis of Growth amid the Global Economic Crisis?" (http://www.LatinAmericaLeadersForum.com), October 21st, New York City

•   2nd Banking Leaders Forum, "Private Banking on the Brink of Transformational Change" (http://www.BankingLeadersForum.com), November 11th, New York City

•   Global Energy Leaders Forum 2010, "Proposals and Solutions for Today's Global Energy Challenges" (http://www.GlobalEnergyLeadersForum.com), December 2nd, New York City

•   2nd Private Equity Leaders Forum, "Setting the Stage for Radical Transformation in 2011 and Beyond" (http://www.PrivateEquityLeadersForum.com), December 9th, New York City

Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders Forums, including:

•   Distressed Investing Leaders Forum 2009 DVD Video Package, "The Most Comprehensive Guide for Any Investor in Distressed Assets", http://www.DistressedInvestingLeadersForum.com

•   Distressed Investing Leaders Forum 2010 DVD Video Package, "Extraordinary Opportunities Investors Cannot Afford to Pass", http://www.DistressedInvestingLeadersForum.com

•   High-Frequency Trading Experts Forum 2010 DVD Video Package, "Starting and Running a High-Frequency Trading Operation", http://www.HFTExpertsForum.com

•   Hedge Funds Leaders Forum 2010 DVD Video Package, "Generating Alpha in Challenging Times", http://www.HedgeFundsLeadersForum.com

•   High-Frequency Trading Experts Forum 2010 DVD Video Package, "Innovating and Profiting from High-Frequency Trading in 2010 and Beyond", http://www.HFTLeadersForum.com

Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net. Golden Networking has been frequently featured in the press, including recent articles in The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections" (http://www.nytimes.com/2009/11/07/nyregion/07network.html), Los Angeles Times, "Speed-addicted traders dominate today's stock market" (http://articles.latimes.com/2010/may/16/business/la-fi-new-exchanges-20100516), Reuters, "Revamp looms as trading experts huddle at SEC" (http://www.reuters.com/article/idUSTRE6504U820100601)  and Columbia Business School's Hermes Alumni Magazine, "10 Under 10" (http://www7.gsb.columbia.edu/alumni/news/ten-under-ten).

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Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders Forums, including:

• Distressed Investing Leaders Forum 2009 DVD Video Package, "The Most Comprehensive Guide for Any Investor in Distressed Assets", http://www.DistressedInvestingLeadersForum.com

• Distressed Investing Leaders Forum 2010 DVD Video Package, "Extraordinary Opportunities Investors Cannot Afford to Pass", http://www.DistressedInvestingLeadersForum.com

• High-Frequency Trading Experts Forum 2010 DVD Video Package, "Starting and Running a High-Frequency Trading Operation", http://www.HFTExpertsForum.com

• Hedge Funds Leaders Forum 2010 DVD Video Package, "Generating Alpha in Challenging Times", http://www.HedgeFundsLeadersForum.com

• High-Frequency Trading Experts Forum 2010 DVD Video Package, "Innovating and Profiting from High-Frequency Trading in 2010 and Beyond", http://www.HFTLeadersForum.com