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ICE Chief Blasts Regs That Favor Rival

Jeffrey Sprecher, ceo of Intercontinetnal Exchange, has criticized regulations that give rival CME Group better tax treatment for swaps trading, reports Reuters.

Jeffrey Sprecher, ceo of Intercontinetnal Exchange, has criticized regulations that give rival CME Group better tax treatment for swaps trading. Speaking at a conference, Sprecher was referring to regulations that allow CME’s ClearPort to clear swaps as futures contracts for a tax benefit. ICE clears energy swaps but does not convert them first to futures.

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