Rules scheduled to take effect last July for the $601 trillionswaps market may be delayed as long as a year under a proposal bythe U.S. Commodity Futures Trading Commission.

At a meeting yesterday in Washington, the agency's fivecommissioners were set to consider a proposal to postpone until aslate as July 16, 2012, rules that were required to take effect inmid-July under the Dodd-Frank Act.

If finalized, the rule would be the second time the agency hasdelayed the effective date of Dodd-Frank rules. The proposal willbe open to public comment for 30 days; the commission is expectedto finalize the postponement by the end of the year.

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