Meeting Date:
Wednesday, January 25, 2012
CFTC Staff:
Chairman Gary Gensler
Eric Juzenas
Carl Kennedy
Salman Banaei
Steve Sherrod
Organization(s):
Javelin Capital Markets
External Attendees:
James Cawley
Additional Information:
Javelin Capital Markets presented their view of several approaches to determining appropriate minimum block sizes for swap transactions. Specifically, Javelin suggested that the Commission should consider determining appropriate minimum block sizes for USD-denominated interest rate swaps by tenor as a function of (1) market depth, as measured by available liquidity, (2) market breadth, and/or (3) a multiple of the average trade size or "screen size." The Swaps and Derivatives Market Association, an industry group that represents Javelin and others, subsequently drafted a
comment letter presenting their recommendations on this subject
.
