Margins : their role in the regulatory debate between the Commodities Futures Trading Commission and the Securities Exchange Commission
Wolatz, Amy E.
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The Securities Exchange Commission and the Commodities Futures Trading Commission are contending in Congress over the issue of which commission should have regulatory control over the stock index futures contracts. Margins requirements are a topic of major concern in the deba te . This paper focuses on the margin topic. A definition of margins and their functions is provided. A conclusion is reached that margins are currently at a level which is sufficient for prudential purposes. Much of the research was done through the use of government publications on the Congressional hearings. The purpose of this paper is to provide guidance concerning the various issues raised by the margin requirement debate. The scope of the paper is limited to published information.