Chatham Financial has launched www.HedgingWorks.com as a service to clients and business end users of OTC derivatives. The launch is part of an overall initiative to build awareness and understanding of OTC derivatives legislative developments and their implications for business users.
The new website features resources for users and an interactive blog featuring updates from Capitol Hill, commentary on issues and alternative options, and a chance for business users to make their voices heard on how currently proposed policy could detrimentally impact their business.
Mike Bontrager, founder and CEO, Chatham Financial, commented: We support the four objectives for legislative reform that were identified by Treasury Secretary Timothy Geithner, but the ramifications for many business users of currently proposed legislation could be profound; many users are only beginning to understand the implications and costs. One-size-fits all legislation is risky. If new legislation doesn’t recognize the differences between users, the responsible businesses which use OTC derivatives to mitigate everyday interest rate, foreign currency and commodity risk may be burdened with significant incremental costs.
Dave Hall, COO of Chatham Financial, said: Policymakers in Congress, Treasury and regulators have shared with us directly that the voice of business end users for OTC derivatives is not being heard in Washington. We are seeking to change that by engaging business leaders and policymakers to make sure everyone is well informed and understands the issues and implications. We believe good derivatives reforms can be achieved without hurting businesses which rely on OTC derivatives to responsibly manage their risks.
Pennsylvania-based Chatham Financial is an independent interest rate and foreign exchange risk management consulting company.
