SEC and CFTC stepping up the merger plans
I reported about this intention (which to me makes a lot of sense) couple of months ago. I even suggested a new and catchy name for the merged entity - how about SECFTC?
Some of my pro-merger arguments were that the merger is logical because both agencies oversee financial instruments: The SEC deals mostly with exchanges and the CFTC with commodities. Having two separate agencies doesn’t really make sense and only creates double standards like the ability to operate a Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerage under an SEC umbrella and not under CFTC/NFAs one.
It is clearly that SEC has much more regulatory experience and is more balanced in its requirements.
Financial News reports that the Options Clearing Corporation (OCC) is planning to back a merger between the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Several U.S. exchanges will testify at a meeting in Washington on Sept. 3., regarding regulatory changes in the markets.
The OCC believes the current regulatory structure for derivatives is not optimal for financial markets. The OCC’s stand is against that of the CME Group, which will oppose the merger. Craig Donohue, CEO of CME, is expected to testify at the hearing.
Timothy Geithner, the new Treasury Secretary, was rumored to have said that at the time that the merger won't happen.
I reported about this intention (which to me makes a lot of sense) couple of months ago. I even suggested a new and catchy name for the merged entity - how about SECFTC?
Some of my pro-merger arguments were that the merger is logical because both agencies oversee financial instruments: The SEC deals mostly with exchanges and the CFTC with commodities. Having two separate agencies doesn’t really make sense and only creates double standards like the ability to operate a Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerage under an SEC umbrella and not under CFTC/NFAs one.
It is clearly that SEC has much more regulatory experience and is more balanced in its requirements.
Financial News reports that the Options Clearing Corporation (OCC) is planning to back a merger between the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Several U.S. exchanges will testify at a meeting in Washington on Sept. 3., regarding regulatory changes in the markets.
The OCC believes the current regulatory structure for derivatives is not optimal for financial markets. The OCC’s stand is against that of the CME Group, which will oppose the merger. Craig Donohue, CEO of CME, is expected to testify at the hearing.
Timothy Geithner, the new Treasury Secretary, was rumored to have said that at the time that the merger won't happen.