News in brief: Dodd-Frank enacted, Chocfinger hit
CME cheers as Dodd-Frank is enactedCME Group, the world’s largest derivatives exchange, has greeted warmly President Barack Obama’s signing of the Dodd-Frank Wall Street Reform and Consumer Protection Act into law yesterday.“We applaud the hard work and dedication of the Administration and Congress in crafting this historic piece of legislation to strengthen US financial markets and reduce systemic risk,” the bourse said in a statement. “The Dodd-Frank Act reinforces the core tenets of CME Group’s markets: price transparency, liquid markets with low transaction costs, market integrity, customer protection and safety and soundness in central counterparty clearing services. “We look forward to working with our customers and other market participants, as well as regulators to ensure that new rules implementing the Act serve the public interest, foster competition and innovation and do not place the US financial services sector at a competitive disadvantage in...