Mark Wetjen, a member of the Commodity Futures Trading Commission, said at the International Derivatives Expo in London that a deal over cross-border swap trading rules will not likely be in place by the July 12 deadline, though he was optimistic an accord could be hammered out within weeks rather than months. In the meantime, Wetjen suggested an interim arrangement, but Chairman Gary Gensler said the agency should be able to make the deadline. Read SIFMA's statement on Wetjen's comments.

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