Rewriting the rules

Every new major regulatory initiative has the potential to benefit some market participants and inhibit the business of others, few more so than the various initiatives currently under consideration by the US Congress. For over-the-counter (OTC) commodity derivatives, the key initiatives include the Waxman-Markey Bill1 (passed by the House on June 25, 2009), the Obama Administration's white paper on financial regulatory reform (released on June 17, 2009) and the recent pronouncements from fed

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