CFTC eying rules for OTC markets, high-frequency traders

Speaking at the Futures Industry Association annual conference today, Commodity Futures Trading Commission Chairman (CFTC) Gary Gensler said more regulation is needed to protect the integrity of U.S. financial markets.

Three measures that Gensler advocated were explicit regulation of derivatives dealers, exchange trading of OTC derivatives, and centralized clearing of OTC derivatives. Gensler also highlighted the need for open access.

“To ensure fairness and competition in the over-the-counter derivatives marketplace, swaps clearinghouses should have open access, where they would be required to take on trades from any regulated exchange or swap execution facility,” he said.

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