Derivatives Conference in NY to Discuss Potential Costs of Splitting Off of Swaps Desks from Banks

June 16, 2010 - PRLog -- "The Wall Street reform law being written by House and Senate negotiators will include some splitting off of swaps desks from banks, a key House negotiator told Reuters on Tuesday. Collin Peterson, the House Agriculture Committee chairman and a lead House negotiator on the derivatives portion of the bill, had given little sign until now of his views about limits on bank activity in the $615 trillion swaps market. The limits look increasingly likely to become part of the final bill." That's how Reuters' Charles Abbott summarizes the latest developments regarding the regulation of swaps, as congressmen debate the final bill reforming the financial system; this bill will have been signed by President Obama by the time hundreds of financial services executives meet at Derivatives Leaders Forum 2010, July 22nd.

Mr. Abbott reports: "Peterson expressed some solidarity with Senate Agriculture Committee Chairman Blanche Lincoln and her proposal to require banks to spin off lucrative swaps-dealing desks, which have been blamed for exacerbating the 2007-2009 financial crisis. His panel explored limits on federal aid to the swaps industry last year. Lincoln's office clarified on Monday the scope of the limits she proposed. 'I think there will be some splitting off of swaps desks,' Peterson said in an interview, adding that the new details provided by Lincoln were moving the issue 'to a place I'd probably be comfortable with it.' Derivatives were on the agenda for action next week by negotiators, among the final items for compromise. The bill will require 'standardized' swaps to go through clearinghouses and to be traded on regulated platforms to prevent market distress. Clearinghouses require companies to post margins against default, a potential additional cost."

Derivatives Leaders Forum 2010, "Strategies for Increasing Profits under an Evolving Regulatory Framework" (http://www.DerivativesLeadersForum.com), July 22nd, 2010, New York City, is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for financial services and real estate 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

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

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