Tuesday, 6 October 2015
Last updated 16 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…