The U.S. Commodity Futures Trading Commission is poised to denyrequests from Wall Street firms for a broad delay of rulesrequiring they move their swaps transactions ontogovernment-mandated systems by Oct. 2.

Lobbyists representing market participants have asked the CFTCto delay when they must start trading on swap execution facilities,or SEFs, rather than privately in over-the-counter markets,according to letters sent to the regulator. The International Swaps& Derivatives Association and the Securities Industry &Financial Markets Association are among groups that say theirmembers need more time to prepare for the transition.

“I don't see a wholesale delay of Oct. 2,” Steve Adamske, a CFTCspokesman, said in a Sept. 24 telephone interview. Instead, theregulator will review requests for delays case by case, he said.“We will take a look at anybody who is looking for no-action reliefon a targeted basis.”

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.