This past week the futures industry descended upon Boca Raton, Florida for its annual conference where leaders of the industry rub elbows with each other, as well as with internaonal regulators. The so-called “Boca Conference” has been around for 39 years. In some editions, “headline creating” news is made, such as in 2007 when the IntercontinentalExchange (“ICE”) announced that it was making an unsolicited bid for the Chicago Board of Trade “CBOT”).
While the executives of ICE were running around Boca promoting the merits of its proposed transaction, the leaders of the Chicago Mercantile Exchange (“CME”) were on the golf course since they assumed that their already announced merger with CBOT was a done deal. As is known, CME ultimately won the battle for CBOT, but ICE’s aggressive acons made that Boca one to remember.
In its 39th edition, this Boca was not so lively, but it did provide some important updates in areas of regulatory uncertainty, most notably from the Commodity Futures Trading Commission (“CFTC”) and/or its former staﬀers/Commissioners.
To read the rest of Falvey’s commentary, click HERE. (PDF)