Reforming financial reform

摘要

The financial reform bill that passed the Senate in late May will open the door to an even longer rule-making process that will impact traders and the futures industry. On May 20, the Senate passed the Restoring American Financial Stability Act of 2010, which includes broad clearing requirements for over-the-counter (OTC) derivatives, marginrnand execution requirements, requirements that swap dealers and major participants be registered and gives the Commodity Futures Trading Commission (CFTC) authority to impose position limits across commodity markets.