September 16, 2010
By Matthew Leising
More than 200 global financial firms may qualify as swap dealers under new over-the-counter derivatives regulations being crafted by the Commodity Futures Trading Commission, according to Chairman Gary Gensler.
The designation would impose prescribed capital requirements to back trades, mandate the use of clearinghouses for most transactions and require a higher level of oversight than other market users. The makeup of swaps dealers may mimic the self-imposed category of “primary member” of the International Swaps and Derivatives Association, an industry trade and lobbying group, Gensler said in prepared remarks he’s scheduled to deliver to the group today in New York…
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Last Updated: September 17, 2010