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

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note