Futurisation debate shifts to block trading rules
Different block trading thresholds for economically equivalent swaps and futures could hand exchanges a decisive advantage in the ongoing futurisation fight. But some market participants argue the disparity is fair, as do some regulators. Joe Rennison reports
"Th sense I have is that the commissioners are concerned the new rules have created consequences they did not intend. They were concerned when energy swaps transitioned over to futures and they are concerned something similar could happen in other asset classes,” says Wayne Pestone, chief regulatory officer at foreign exchange trading platform FXall in New York.
It’s a bold statement, but it’s not far from the mark for at least one of the commissioners in question – Bart Chilton, part of the
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