The President S Working Group On Financial Markets Report On Over The Counter Derivatives Markets And The Commodity Exchange Act

Witnesses: William Brodsky, Chicago Board Options Exchng., on behalf of the U.S. Securities Markets Coalition; M. Scott Gordon, Chicago Mercantile Exchng.; Richard Grove, Jr.,Internat. Swaps and Derivatives Assoc.; Marc Lackritz, Securities Ind. Assoc.; William Miller, II, Commonfund; Annette Nazereth, SEC; Patrick Parkinson, Federal Reserve System; C. Robert Paul, Commodity Futures Trading Comm.; Daniel Rappaport, NY Mercantile Exchange; Edward Rosen, Cleary, Gottlieb, Steen and Hamilton, on behalf of the Ad Hoc Coalition of Commercial and Invest. Banks; Lee Sachs, U.S. Dept. of the Treasury; and Mark Young, Kirkland and Ellis on behalf of the Chicago Board of Trade.

In 1998, Congress requested the President's Working Group on Financial Markets to develop policy with respect to over-the-counter derivative instruments.