Event: Other Events
Photograph of Participants at the CFTC’s 13th Annual International Symposium and Training Program on Global Derivatives Markets Held in Chicago, October 20-24, 2003
Photograph of participants at the CFTC's 13th Annual International Symposium and Training Program on Global Derivatives Markets held in Chicago, October 20-24, 2003 (see CFTC News Release 4856-03, October 23, 2003, for additional information). The CFTC's Office of International Affairs, in conjunction with the Federal Reserve Bank of Chicago, hosted the meeting of international regulatory and market authorities to discuss issues relevant to the international derivatives markets. The meeting began with a media briefing (see below); a separate intensive, technical session was held on October 27 at the CFTC's Chicago regional office, covering the CFTC's regulatory programs.
-- CFTC Chairman Says International Cooperation Vital
By Jim Cote
Chicago, Oct. 23 (OsterDowJones) - A group of international regulatory and market authorities are meeting in Chicago this week to discuss issues ranging from how to design futures contracts in order to discourage manipulation, to the surveillance of present and future electronic markets.
This is the 13th annual meeting of its kind, sponsored by the U.S. Commodity Futures Trading Commission Office of International Affairs, in conjunction with the Federal Reserve Bank of Chicago. Unlike other gatherings of its kind, it did not attract any anti-globalization protesters.
The meetings, being held Oct. 20-24 at the Chicago Fed's training facilities, have attracted participants from Europe, South America, the Middle East, Asia and the European Central Bank, representing 47 different markets and regulators.
On Oct. 27, the groups will attend a separate intensive, technical session to be held at the CFTC's Chicago regional office, covering its regulatory programs.
Several overseas regulators, including Pakistan and Thailand, have commodity and securities markets opening in the next few years, while others are dealing with foreign-based exchanges opening in the their home turf. Eurex, the world's largest futures exchange based in Frankfurt, has applied to enter the U.S. market and is facing stiff political opposition from U.S. exchanges. However, at a panel discussion, presenters did not comment on those issues.
"We welcome this opportunity to host representatives from regulatory and market authorities from a broad range of countries to share our regulatory experience. All of us face similar issues resulting from changes in the structure of the global marketplace, and no single regulatory authority has all the answers. As such, international cooperation among regulators and market authorities is vital to effective oversight of our markets, and these meetings help to promote more effective cooperation," said CFTC Chairman James Newsome.
Other discussions and topics included "ethics and market confidence" and "supervision and regulation in a world without boundaries."
Last Updated: July 5, 2007