New York, NY, July 17, 2010 --(PR.com
)-- Representatives of the five largest banks in the United States, Goldman Sachs, Morgan Stanley, JP Morgan Chase, Citigroup and Bank of America, which control over 90% of the U.S. swaps and derivatives market, will be in attendance at Golden Networking's Derivatives Leaders Forum 2010, "Strategies for Increasing Profits under an Evolving Regulatory Framework" (http://www.DerivativesLeadersForum.com), July 22nd, 2010, New York City, sponsored by UltraHighFrequencyTrading.com.
The trading of derivatives, largely privately negotiated and traded, is going through significant transformation, in what constitutes the biggest financial regulatory revamp since the 1930s. In recent years, derivatives have constituted huge profit machines. Now proposals in Congress call for Wall Street firms to wall off their derivatives businesses and place them in subsidiaries requiring substantially more capital. Some are now declaring that derivatives trading will be a less profitable endeavor over the next decade. Glimmers are emerging of a new financial landscape of lower profits and reduced risks, even before Congress completes the financial regulation overhaul.
The five largest banks in the United States, Goldman Sachs, Morgan Stanley, JP Morgan Chase, Citigroup and Bank of America, have control over 90% of the U.S. swaps and derivatives market. Currently, these five bank-dealers can fund their swaps trading units with FDIC-insured deposits. They have access to the Federal Reserve’s discount window, which allows them to borrow money for trading swaps at near 0% interest rates. The financial reform bill, if approved, would require banks to set up affiliated walled-off entities that will trade derivatives strictly supported by their own capital.
Derivatives Leaders Forum 2010 is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez. Upcoming Golden Networking's Forums and Business Receptions include:
- High-Frequency Trading Happy Hour, (http://www.HFTHappyHour.com), July 13th, New York City
- Distressed Investing Experts Forum 2010, "Analyzing and Valuing Distressed Companies, Securities and Real Estate" (http://www.DistressedInvestingExpertsForum.com), September 23rd, New York City
- High-Frequency Trading Experts Workshop 2010, "Practical Implementation of High-Frequency Trading Strategies" (http://www.HFTExpertsWorkshop.com), London, October 4 & 5 2010, New York, October 7 & 8 2010, Dubai, October 25 & 26 2010, and Hong Kong, October 28 & 29 2010
- 2nd China Leaders Forum, "Challenges and Opportunities for China's Economic Juggernaut" (http://www.ChinaLeadersForum.com), October 6th, New York City
- Latin America Leaders Forum 2010, "Unlikely Oasis of Growth amid the Global Economic Crisis?" (http://www.LatinAmericaLeadersForum.com), October 21st, New York City
- 2nd Banking Leaders Forum, "Private Banking on the Brink of Transformational Change" (http://www.BankingLeadersForum.com), November 11th, New York City
- Global Energy Leaders Forum 2010, "Proposals and Solutions for Today's Global Energy Challenges" (http://www.GlobalEnergyLeadersForum.com), December 2nd, New York City
- 2nd Private Equity Leaders Forum, "Setting the Stage for Radical Transformation in 2011 and Beyond" (http://www.PrivateEquityLeadersForum.com), December 9th, New York City