Inside these posts: credit default swaps

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Sara Lee credit default swaps up on possible bid

From Bloomberg News | Credit-default swaps on Sara Lee Corp. climbed to a record following a report that buyout firm Apollo Global Management LLC teamed up with investor C. Dean Metropoulos to consider a bid for the company.

Official: CFTC needs ‘Plan B’ for swaps rules

The Commodity Futures Trading Commission needs to consider a “Plan B” on how it will police the $600 trillion swaps market if Congress fails to deliver a 50 percent increase in its budget, one of its top officials said Monday. Get the full story »

ICE withdraws application to clear derivatives

ICE Trust, the unit of exchange operator IntercontinentalExchange Inc. dedicated to clearing credit-default swaps, has withdrawn its application to be a derivatives clearing organization registered with the Commodity Futures Trading Commission in response to changes proposed by the regulator.

ICE filed the application Nov. 12, but a spokeswoman told Dow Jones Newswires on Thursday that it decided to withdraw it, “given the significant changes proposed to the commission regulations” for derivatives-clearing organizations, or DCOs. Get the full story »

SEC votes on plan to police swaps, derivatives

The top U.S. securities regulator Wednesday took its first stab at policing the $615 trillion over-the-counter derivatives market with a plan to mitigate conflicts of interests at venues that will handle the swaps.

The Securities and Exchange Commission voted 5-0 to propose ownership limits on the swaps trading venues and clearinghouses, which will assume the risk if one party defaults. Get the full story »

CME’s OTC business may get overhaul

CME Group Inc’s profitable over-the-counter clearing operations may be headed for an overhaul.

The Commodity Futures Trading Commission is putting pressure on the giant exchange operator to change the way its ClearPort unit handles OTC swaps, two people familiar with recent discussions said.

CME treats many of the OTC swaps — which are bilaterally matched away from the exchange — like its exchange-traded futures, a popular feature that has allowed investors to cross-margin, and thus save money on, the two products for years. The treatment requires CFTC approval. Get the full story »