A bill proposed by Sens Pat Roberts of Kansas and Heidi Heitkamp of North Dakota would give futures customers more time to provide the funds to cover their margin requirements following a trade. A CFTC rule says the money must be deposited by the morning following a trade. Roberts and Heitkamp say the deadline should be the close of business on the day after a trade – easier for end users to satisfy. They say their three-page bill mirrors a provision in the House-passed bill to reauthorize CFTC.
For a statement by the sentors and a link to the bill, click here.
National conservative are putting more money into advertisements against Roberts in the Aug 5 Senate primary in Kansas, says Politico. Critics say Roberts, seeking a fourth term, is not sufficiently conservative.