CFTC Seeks ICE Restrictions In Amaranth’s Wake

Oct 24 2007 | 7:48am ET

Amaranth Advisors lost billions trading natural gas contracts on the Intercontinental Exchange, and the U.S. Commodity Futures Trading Commission wants to make sure that nothing like it ever happens again.

The CFTC is set to ask Congress for new restrictions and oversight of the ICE, an electronic market not subject to the transparency requirements faced by the likes of the New York Mercantile Exchange. In particular, the CFTC wants mandatory dialing reporting of large trades on the exchange, limits on how many contracts a single trader can control and new exchange rules to force traders to unwind large positions.

CFTC Acting Chairman Walter Lukken is set to propose the recommendations to a U.S. House of Representatives subcommittee today.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note