The Gateway to Algorithmic and Automated Trading
CFTC Chair ups funding request before Senate Subcmte on Fin'l Svs; hints at tighter oversight
First Published Friday, 10 July 2009 from Need to Know News
Gensler cited specific problems areas that increasing staff and technology will address;
- Law Enforcement including Ponzi schemes and market manipulations
- cites Commodity Index Funds..other financial investors that participated in Commodity Bubble..Gensler suggests further breakdown of Non - Commercial open interests in Commitment of Traders report
- Ensure positions limits are consistently applied; CFTC has begun review fo all outstanding hedge position limits to consider appropriateness of exemptions; also reviewing process and standards thru which no action letters are issued...CFTC will also consider how much or whether Swap Dealers should be exempted from position limits
- Upgrade IT systems to produce surveillance reports for analysis
- Ensure timely review of new financial products
- Equities Close
Equities finished mixed to higher with the Dow relatively unchanged at 10567, the S&P rising 0.5% to 1146 and Nasdaq gaining 0.8% to 2359....continued
- Preview: Canadian Q4 Capacity Utilization Expected to Rise To 69.7%
* Industrial Capacity Use Q/Q: 69.7% * Manufacturing Capacity Use Q/Q: 66.2% Q4 Canadian Capacity use is forecast to advance to 69.7% after 9 quarterly retreats....continued
- RBNZ Leaves Benchmark Unchanged at 2.50%
...continued
- Crude Closes Up 0.7% to 82.09
...continued
- PBR, RDS find OIL at Espirito Santos site
...continued
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