Regulators and representatives of financial firms met in Washington, D.C., today to begin hammering out the details of sweeping new financial reform legislation passed into law this summer. The meeting was jointly hosted by the Commodity Futures Trading Commission and the Securities & Exchange Commission.
A major element of OTC derivatives reform is central clearing, which would require OTC trades to be matched in a third-party clearinghouse much like exchange-traded futures contracts are. Initial concerns have been raised by smaller market participants that say they are concerned they will not be granted equal access to these services.
- Banks Square Off on Derivatives
- CFTC's Gensler Says Agencies Won't Succumb to Lobbying on Financial Rules
- Gensler Statement on CFTC/SEC Public Roundtable to Discuss Governance and Conflicts of Interest in the Clearing and Listing of Swaps