Hear from the ultimate insider on speculation that the Fed might raise margin requirements on oil futures.
Friday’s surprise guest is InterContinentalExchange CEO Jeffrey Sprecher, Following is a synopsis of his main points.
There’s speculation that the Fed might raise margin requirements on oil futures. Can you elaborate?
“What they have been talking about,” explains Sprecher, “is taking some of the over the counter swaps and derivatives that exist in the interest rate space and bringing them into an environment that has structure. So we can clean up some of the balance sheets of the big brokers.”
Do you think we’ll see that?
“I do. It is a way of alleviating some of the pain and getting rid of the contagion that’s going on between some of the interest rate asset classes,” adds Sprecher.
What commodity is impacted most?
“Almost every commodity that trades in North America is trading at all time highs,” he replies. “And record volumes are taking prices up. So it’s across the board.”
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Trader disclosure: On Mar.14,, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Finerman Owns (GS); Finerman's Firm Owns (AAPL), (FNM), (MSFT), (NMX), (NYX), (SKS), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (SPY), (IWM), (IJR), (MDY), (COF); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Pete Najarian Owns (AAPL), (AMR), (C), (MS), (MSFT), (NOK), (YHOO); Pete Najarian Owns (COP) Calls, (DNA) Calls; Pete Najarian Owns (FNM) Puts, (LEH) Puts, (USB) Puts; Finerman's Firm Is Long (CCU) Call Spreads