Curriculum Guide · Courses
Futures Regulation and the Commodity Exchange Act
Professors Architzel, Corcoran, and Cela
LL.M Course 704 | 2 credit hours
Futures and swaps markets are an important component of today's financial markets. They permit price discovery and risk shifting. Futures and swaps regulation has changed significantly since Congress enacted the Dodd-Frank Act in 2010. The Commodity Futures Trading Commission is the primary regulator for both futures and swaps. This course begins with the nature of derivatives instruments (including exchange traded futures and OTC traded swaps), their economic purpose and role in today's financial marketplace. The course examines the regulation of derivatives in financial and tangible commodities, the structure and requirements of the Commodity Exchange Act, the roles of the CFTC, futures exchanges, swap execution facilities, traders, and brokers, clearinghouses, pool operators and trading advisers, brokerage firms, swap dealers, major swap participants, and the growing links with securities, banking, and other sectors. It looks at protections against fraud and manipulation, issues involving regulatory coordination from both a U.S. and international perspective, and the impact of new trading technologies and cross border transactions.
Prerequisite: Securities Regulation.
formerly: Regulation of Commodity Futures Transactions