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Friday, June 25, 2010 9:36:39 AM
CME = BUY CALLS!
“House of Representatives and Senate agreed on Friday on legislation giving regulators oversight of the $615 trillion market in over-the-counter derivatives for the first time.
The proposals are part of a sweeping package of reforms in the wake of the financial crisis, which regulators say was exacerbated by OTC derivatives.
The bill will return to the full House and Senate for approval, and lawmakers hope to have it to President Barack Obama for his signature into law by July 4.
The reforms will fundamentally alter the unpoliced market, dominated by banks like Goldman Sachs, JPMorgan Chase 'Morgan Stanley, Citigroup and Bank of America.
Exchanges stand to gain traffic, such as CME Group Inc and IntercontinentalExchange Inc."
“House of Representatives and Senate agreed on Friday on legislation giving regulators oversight of the $615 trillion market in over-the-counter derivatives for the first time.
The proposals are part of a sweeping package of reforms in the wake of the financial crisis, which regulators say was exacerbated by OTC derivatives.
The bill will return to the full House and Senate for approval, and lawmakers hope to have it to President Barack Obama for his signature into law by July 4.
The reforms will fundamentally alter the unpoliced market, dominated by banks like Goldman Sachs, JPMorgan Chase 'Morgan Stanley, Citigroup and Bank of America.
Exchanges stand to gain traffic, such as CME Group Inc and IntercontinentalExchange Inc."
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