Clearing rules for Europe likely will not be ready in time for a mid-2014 launch, experts say, and adoption might be delayed until 2015 or 2016. The delay could create tension between the U.S. and EU regulatory environments. "[M]arkets and regulators will simply have to deal with some necessary -- and, I hope, limited -- disconnects for a short period of time," Commodity Futures Trading Commission member Bart Chilton wrote in an e-mail.

Related Summaries