Gensler Backs Swap Trading Rules Timetable
The Commodity Futures Trading Commission chairman has backed the timetable the regulator has set for finalizing new norms for swap trading venues.
The Commodity Futures Trading Commission (CFTC) chairman has backed the timetable the regulator has set for finalizing new norms for swap trading venues, Financial Times reports. Gary Gensler reasoned that time is required to harmonize rules between agencies.
The U.S. Securities and Exchange Commission and the CFTC are at variance on some subjects, such as on how many parties must see a quote before a trade can be implemented by a broker in a “request for quote” trade. Their governance norms for swap execution facilities also differ.
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