Swaps migration raises concerns

01/24/2013 | Bloomberg Businessweek

After the financial crisis, regulators worldwide tried to get a handle on swaps, which were faulted for the upheaval, particularly credit default swaps. However, two years of hard work in crafting rules were partly nullified when energy swaps deals simply migrated to futures exchanges to avoid constraints. "That is fundamentally a big problem with the swaps rules," said Scott O'Malia, a member of the Commodity Futures Trading Commission.

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