SIFMA and other groups ask CFTC for swaps-clearing delay

06/7/2013 | Wall Street Journal, The

SIFMA's Asset Management Group and other industry associations have asked the Commodity Futures Trading Commission to delay implementation of some swaps reforms due to begin Monday. "This request does not reflect a lack of will or commitment regarding clearing but, rather, one of inadequate time for [clearinghouses] and [banks and brokers] to implement the necessary technological infrastructure to provide ... critical protection to their customers," according to a letter from the industry groups. Read the letter.

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