CFTC approves new swap-trading rules

The Commodity Futures Trading Commission approved rule changes for swaps transactions Thursday. For one, traders must get two bids before a deal can be completed. SIFMA is raising concerns about the rule. "The CFTC's decision to impose a minimum bid requirement for certain swap transactions executed on [swap execution facilities] will impair market liquidity at the expense of all market participants," said Kenneth E. Bentsen Jr., acting president and CEO of SIFMA. The CFTC also is requiring transaction prices to be made public after a swap has cleared. Read SIFMA's statement on the CFTC's rules.

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