3/12/2013

Sanford C. Bernstein & Co. says the rules that began Monday requiring the central clearing of over-the-counter derivatives may reduce pretax margins by a third at bank trading units. JPMorgan Chase has said the regulations spawned by the Dodd-Frank Act will cost it $1 billion to $2 billion in revenue. At least three dealers say they're worried about being swamped by the surge in cleared trades.

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