CFTC adopts rules governing swaps transactions

The Commodity Futures Trading Commission approved new rules governing swaps transactions in what was seen as a compromise. For example, traders will be required to request quotes from two potential counterparties, rather than the previously proposed five quotes, before a trade can be completed. Also, transaction prices will be required to be made public after a swap has cleared. "This is a paradigm shift for the American markets," said CFTC Chairman Gary Gensler. "When light shines on a market, the economy and public benefit."

View Full Article in:

Wall Street Journal, The · New York Times (tiered subscription model), The · Reuters · Bloomberg · Financial Times (tiered subscription model)

Published in Briefs: