The Commodity Futures Modernization Act (P.L. 106-554)

Description:

The last act of the 106th Congress was to pass an omnibus bill that included the Commodity Futures Modernization Act (H.R. 5660; P.L. 106-554), the most significant amendments to the regulation of derivatives trading in 25 years. Derivative financial instruments are those that gain or lose value as some underlying rate, price, or other economic variable changes. The 106th Congress approved an overhaul of derivatives regulation which codified the unregulated status of certain derivatives, permitted the exemption of other currently-regulated contracts from oversight by the Commodity Futures Trading Commission (CFTC), and permitted the trading of a new kind of contract: a futures contract/security hybrid based on the stocks of individual corporation.

Creator(s):
Creation Date: February 3, 2003
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
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Place of Publication: Washington, D.C.
Date(s):
  • Creation: February 3, 2003
  • Digitized: July 12, 2006
Description:

The last act of the 106th Congress was to pass an omnibus bill that included the Commodity Futures Modernization Act (H.R. 5660; P.L. 106-554), the most significant amendments to the regulation of derivatives trading in 25 years. Derivative financial instruments are those that gain or lose value as some underlying rate, price, or other economic variable changes. The 106th Congress approved an overhaul of derivatives regulation which codified the unregulated status of certain derivatives, permitted the exemption of other currently-regulated contracts from oversight by the Commodity Futures Trading Commission (CFTC), and permitted the trading of a new kind of contract: a futures contract/security hybrid based on the stocks of individual corporation.

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Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
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Resource Type: Report
Format: Text