Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said it was Congress’ intent to open up the derivatives market with the passage of the Dodd-Frank Act, but it would take “a few years” to judge whether it achieved that goal. Speaking at a conference, Gensler also said the act’s mandate to force much of the over-the-counter derivatives market through clearinghouses or exchanges will mean “it’s less likely that the taxpayers stand behind that transaction.”
