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CCP RISK REVIEW
CCP Risk Review

The CCP Risk Review summarizes - in detail - the rules and procedures of CCPs worldwide. Written in practical, comparative terms and incorporating key implications of applicable law where relevant, the Risk Review assists market participants and regulators in scrutinizing and understanding the risks related to CCPs, for both clearing members and clients.

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FUTURES INDUSTRY
CONSUMER FUNDS PROTECTION
FIA Updates Customer Funds Protection Guide

FIA issued an updated version of its guide to the rules and regulations for U.S customer fund protections. The guide provides futures commission merchants and their customers with simple, easy-to-use information about how customer funds are protected in futures and cleared swaps markets.
Read the Guide


SEF TRACKER
FIA NEWS
May 2007
>
Supreme Court Agrees to Hear Klein vs. Nybot Case
The Supreme Court on May 21 granted a petition to hear the case Klein & Co. Futures, Inc v. Board of Trade of the City of New York, et al. The case raises an important issue regarding whether futures commission merchants have a private right of action against futures exchanges and clearing houses under the Commodity Exchange Act. The case will be briefed over the summer and argued in the fall. The petitioner is represented by Drew Days of Morrison & Forrester. The respondent is represented by Edmund Schroeder of Cadwalader, Wickersham & Taft. The FIA filed a brief as "amicus curiae," which was prepared by Chris Landau and Mark Young of Kirkland & Ellis. The FIA has taken an interest in this case because of its implications for the futures industry. The FIA's brief argued that the Second Circuit "clearly erred" by interpreting Section 22 of the CEA to deprive futures commission merchants of standing to bring a private right of action against registered entities such as exchanges. "That error affects the interests not only of the parties to this case, but of the entire futures industry, by exposing futures commission merchants to substantial financial harm resulting from bad faith misconduct by registered entities without any remedy," the FIA’s brief stated.

Supreme Court Docket
Brief of Amicus Curiae FIA In Support of Petitioner

 
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WEDNESDAY, JANUARY 28 
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> Fines, reforms force Deutsche Bank to face tough strategy choices (Business Recorder)115
> Macquarie is frontrunner for Jefferies Bache (FOW magazine)101
> RBS Seen Disposing of Most Bad Bank Assets Ahead of Plan (Bloomberg)99
> GMEX invests in post-trade to boost exchange sales (FOW magazine)93
> GFI founder’s ex wife shuns $10m to back CME bid (City A.M.)92
> Eurozone makes fresh push for finance tax (FT)89
> CME to launch two cocoa contracts in challenge to ICE (FT)77
> CFTC aims to approve new position limits by year's end -staffer (Reuters)76
> Commit to removing legal barriers to data-sharing (FT)75
> Derivatives are now a new option for equity investors (China Daily)75
> EU says near deal with Washington on derivatives rules (Reuters)73
> CME Group launches six European natural gas contracts (Reuters)72
> GFI head makes last call for CME backing (FT)72
> CFTC's Giancarlo attacks Dodd-Frank (FOW magazine)71
> US to defer Libor, FX changes till after UK review, Fed’s Powell says (MLex)71
> CTA, global macro strategies to benefit from ECB's quantitative easing (Pensions & Investments)70
> "Blackrock" Report Addresses Left Tail Risk Concerns (ValueWalk)68
> CME Group to launch euro-denominated cocoa contract (Reuters)68
> EU yen-Libor probe to be discussed among antitrust authorities this Friday (MLex)68
> Q&A: Esma's Patrick Armstrong on Mifid II and Priips (Risk.net)66
> Q&A: Stefan Ingves, Basel Committee, on Europe, the NSFR and capital floors (Risk.net)66
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E-clips users: Please note that these news stories are drawn from independent sources. The FIA does not verify or endorse any of these articles, and takes no responsibility for their contents. Please contact Heather Vaughan at the FIA if you have any questions or suggestions regarding this service. (202) 466-5460