According to Reuters, the SEC and CFTC are moving toward finalization of a definition for “swap dealer.” In a swap trade, Party A exchanges the cash flows of its financial instrument for that of Party B. According to the Financial Regulatory Reform Center, a “swap dealer” is any person that: · Holds itself out as a dealer in swaps · Makes a market in swaps · Regularly...
Around the Horn -- a sure bet dinger
Some girls dream of being ballerinas or princesses. Not me. As I sat at my grandpa’s knee and learned about baseball, I nurtured dreams of being a Major League Baseball umpire. I’m not kidding —- not even a little. I love almost everything about the game. I’d tell you about the “almost,” but it’s such a minor, nit-picky thing that would make me sound nutty. So will this: I’m a...