Firms urge regulators to accelerate swaps-clearing requirements

The Clearing Coalition, which includes hedge funds, proprietary traders and asset managers, urged regulators to increase competition in the global swaps market by speeding up requirements for swaps clearing. "It has been nearly two years since the Dodd-Frank Act was signed into law, and industry preparations for the core reform of central clearing are at an advanced stage," according to a letter from the coalition to regulators. "We ask you to prioritize the finalization of clearing rules to continue this momentum."

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Financial Firms Push Agencies for Swap Rules to Spur Competition - Bloomberg

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