Posts tagged ‘Fungibility’
That is the motto of the Boy Scouts and ELX Futures CEO Neal Wolkoff — in town to host the LaSalle Street Dinner Dance, which benefits the Chicago Area Council of Boy Scouts of America— was prepared to tout the performance of his exchange two weeks after it began trading.
“We have been increasing volume every day. I want to get to the point where [CME Group is] asking us for fungibility,” Wolkoff joked.
In an address before the Managed Funds Association, Commodity Futures Trading Commission Chairman Gary Gensler laid out the basics of two key areas of the regulatory reform plan President Obama announced last week and brought back an issue sure to stir controversy.
Gensler focused on over-the-counter derivatives and hedge funds. He said “this new regime should govern 100% of OTC derivatives no matter who is trading them or what type of derivative is traded, standardized or customized. That includes interest rate swaps, currency swaps, commodity swaps, equity swaps, credit default swaps [and those that are unforeseen].”
