Comments on: Building Exits into CFTC Regulation http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/ Keeping politicians' hands off the Net & everything else related to technology Tue, 14 Feb 2012 12:51:08 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Jeffrey Rainer http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-58197 Jeffrey Rainer Mon, 16 Feb 2009 22:35:10 +0000 http://techliberation.com/?p=10815#comment-58197 <p>the article is awsome</p> the article is awsome

]]> By: Dow Futures http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-58073 Dow Futures Thu, 12 Feb 2009 17:03:57 +0000 http://techliberation.com/?p=10815#comment-58073 <p>Very interesting thoughts here, you have raised some excellent points. I'm downloading the full paper to read it in detail.</p> Very interesting thoughts here, you have raised some excellent points. I'm downloading the full paper to read it in detail.

]]> By: tiberiu84 http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-56826 tiberiu84 Mon, 01 Dec 2008 12:31:04 +0000 http://techliberation.com/?p=10815#comment-56826 <p>Today you have a lot of <a rel="follow" href="http://www.onecfd.com/web/guest/OneFinancial" rel="nofollow">stock trading programs</a> to choose from so just study the market a little bit and see who has the most profitable result and invest with them.</p> Today you have a lot of stock trading programs to choose from so just study the market a little bit and see who has the most profitable result and invest with them.

]]> By: Jason Ruspini http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-51331 Jason Ruspini Sat, 24 May 2008 02:51:54 +0000 http://techliberation.com/?p=10815#comment-51331 <p>Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.</p> Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.

]]> By: Jason Ruspini http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-51332 Jason Ruspini Sat, 24 May 2008 02:51:54 +0000 http://techliberation.com/?p=10815#comment-51332 <p>Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.</p> Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.

]]> By: Jason Ruspini http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-42005 Jason Ruspini Sat, 24 May 2008 01:51:54 +0000 http://techliberation.com/?p=10815#comment-42005 <p>Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.</p> Zelener fix is already there actually.. somehow missed it on thomas.gov first time around.

]]> By: Jason Ruspini http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-51330 Jason Ruspini Tue, 20 May 2008 23:14:16 +0000 http://techliberation.com/?p=10815#comment-51330 <p>Regarding the Zelener case, if the traders had the right to offset their positions (that is, exit them before settlement) the forwards would have been considered futures contracts and within the CFTC's jurisdiction. So in order to escape CFTC jurisdiction by qualifying as "spot" otc for retail traders, those traders can't exit their positions. I.e. they can't trade.<br><br><a href="http://www.futuresindustry.org/fi-magazine-home.asp?iss=147&a=961">http://www.futuresindustry.org/fi-magazine-home...</a><br><br>The CFTC and NFA are working to close the Zelener loophole and will probably do so by 2010 although they seem to be doing it in such a way that will only affect margined/levered traders.<br><br>Also I think you technically mean "excluded" instead of "exempt" commodities, which is the reason for the scare quotes there?</p> Regarding the Zelener case, if the traders had the right to offset their positions (that is, exit them before settlement) the forwards would have been considered futures contracts and within the CFTC’s jurisdiction. So in order to escape CFTC jurisdiction by qualifying as “spot” otc for retail traders, those traders can’t exit their positions. I.e. they can’t trade.

http://www.futuresindustry.org/fi-magazine-home…

The CFTC and NFA are working to close the Zelener loophole and will probably do so by 2010 although they seem to be doing it in such a way that will only affect margined/levered traders.

Also I think you technically mean “excluded” instead of “exempt” commodities, which is the reason for the scare quotes there?

]]> By: Jason Ruspini http://techliberation.com/2008/05/20/building-exits-into-cftc-regulation/comment-page-1/#comment-41894 Jason Ruspini Tue, 20 May 2008 22:14:16 +0000 http://techliberation.com/?p=10815#comment-41894 <p>Regarding the Zelener case, if the traders had the right to offset their positions (that is, exit them before settlement) the forwards would have been considered futures contracts and within the CFTC's jurisdiction. So in order to escape CFTC jurisdiction by qualifying as "spot" otc for retail traders, those traders can't exit their positions. I.e. they can't trade.</p> <p>http://www.futuresindustry.org/fi-magazine-home.asp?iss=147&a=961</p> <p>The CFTC and NFA are working to close the Zelener loophole and will probably do so by 2010 although they seem to be doing it in such a way that will only affect margined/levered traders.</p> <p>Also I think you technically mean "excluded" instead of "exempt" commodities, which is the reason for the scare quotes there?</p> Regarding the Zelener case, if the traders had the right to offset their positions (that is, exit them before settlement) the forwards would have been considered futures contracts and within the CFTC’s jurisdiction. So in order to escape CFTC jurisdiction by qualifying as “spot” otc for retail traders, those traders can’t exit their positions. I.e. they can’t trade.

http://www.futuresindustry.org/fi-magazine-home.asp?iss=147&a=961

The CFTC and NFA are working to close the Zelener loophole and will probably do so by 2010 although they seem to be doing it in such a way that will only affect margined/levered traders.

Also I think you technically mean “excluded” instead of “exempt” commodities, which is the reason for the scare quotes there?

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