CFTC approves Sef rules - and eyes block trade controversy
As agency approves long-awaited final rules on Sefs, CFTC staff say they could strip exchanges of freedom to set futures block thresholds
The Commodity Futures Trading Commission (CFTC) may even-up block trade rules for swaps and swap futures, it announced today, as long-awaited requirements for swap execution facilities (Sefs) were approved at an open meeting in Washington, DC. As things stand, swaps are subject to CFTC-set block thresholds – which allow big trades to avoid real-time reporting requirements – but exchanges can set their own thresholds for futures contracts.
Critics have argued this disparity hands the exchanges –
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