Book Description

Last year, Congress indicated that the President's Working Group on Financial Markets (the "Working Group")1 should work to develop policy with respect to over-the-counter ("OTC") derivative instruments,2 and the Chairmen of the Senate and House Agriculture Committees requested that the Working Group conduct a study of OTC derivatives markets and provide legislative recommendations to Congress.3 This Working Group report focuses on changes to the Commodity Exchange Act (the "CEA") that are necessary to promote innovation, competition, efficiency, and transparency in OTC derivatives markets, to reduce systemic risk, and to allow the United States to maintain leadership in these rapidly developing markets.