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The multi-trillion dollar derivatives' business is controlled by a self-appointed consortium of the major banks.
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DERIVATIVES The central reform of the multitrillion-dollar derivatives market would move most derivative trades, currently executed as private contracts, onto fully regulated exchanges.
DERIVATIVES Budget cuts could cripple the Securities and Exchange Commission and the Commodity Futures Trading Commission — which share the vital task of regulating the multitrillion-dollar derivatives market.
The issue came into focus last month after the multibillion-dollar derivatives mess at JPMorgan Chase.
The C.F.T.C. oversees virtually all of the multitrillion-dollar derivatives market; the S.E.C. a relative sliver.
In the weeks ahead, federal regulators will finalize rules that, done right, will bring long-overdue transparency and oversight to the multitrillion-dollar derivatives market.
In particular, the Securities and Exchange Commission and the Commodity Futures Trading Commission — which share the all-important regulation of the multitrillion-dollar derivatives market — have proposed rules that are tough and sophisticated.
And yet, nearly four years after the crash, and nearly two years since the passage of the Dodd-Frank law, the multitrillion-dollar derivatives market is still dominated by a handful of big banks, and regulation is a slow work in progress.
released a devastating report on the multibillion-dollar derivatives debacle at JPMorgan Chase.
Last year's Dodd-Frank financial-regulatory legislation sought to address the problem speculation can play in commodity markets specifically and financial markets more generally, requiring federal regulators to police the massive, multitrillion-dollar derivatives game.
The Koch and Wall Street-backed deregulation items have all been folded into a bill formally reauthorizing the existence of the Commodity Futures Trading Commission -- the regulator that oversees the multi-trillion-dollar derivatives market.
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