Wholesale Markets Brokers' Association - Americas: Statement on U.S. Treasury Department's Release of Proposed "Over-The-Counter Derivatives Act of 2009"

WASHINGTON, DC--(Marketwire - August 13, 2009) -

The WMBA-Americas welcomes the Treasury Department's comprehensive plan for
a more robust, transparent and sound framework for the regulation of the
over-the-counter derivatives markets. As global wholesale brokers of
over-the-counter derivatives, we are encouraged to see that the proposal
avoids a "one size fits all" approach and maintains a competitive
environment by creating the regulatory classification of Alternative Swap
Execution Facilities through which wholesale interdealer brokers with a
range of trading facilities will continue to provide swap dealers and other
sophisticated market participants with competing execution services. We
stand ready to work with the Administration and Congress to fine tune
efforts to improve safety, preserve competition and enhance liquidity in
these important markets essential to economic recovery.

Wholesale Markets Brokers' Association Americas

The Wholesale Markets Brokers' Association (WMBA Americas) is an
independent industry body representing the largest inter-dealer brokers
(IDBs) operating in the North American wholesale markets across a broad
range of financial products. Its members include BGC Partners, Inc.; GFI
Group, Inc.; ICAP; TFS Tradition Financial Services; and Tullett-Prebon
Inc.