Most top credit rating agencies say they would not cut Greece's rating to default if it misses a payment to the International Monetary Fund or European Central Bank, a stance that could keep vital ECB funding flowing into the financial system.
Just days after announcing his resignation as Commissioner of the CFTC, Scott O'Malia was named CEO of the International Swaps and Derivatives Association (ISDA). Swaps only came under the CFTC's jurisdiction during O'Malia's tenure with the passage of the Dodd-Frank Act.
The top U.S. derivatives regulator will consider a reworked proposal to limit speculation blamed for price surges in energy, wheat and other commodities after Wall Street groups successfully challenged an earlier version.
swaps are already being cleared and the vast majority involve plain vanilla interest rate products where an end user transfers floating rate risk for the certainty of a fixed interest rate with so-called swap dealers serving as market makers.