CFTC releases rules for Sefs

Sef and sound?


The definition of a swap execution facility (Sef) has become one of the most controversial elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Charged with drawing up detailed rules, the Commodity Futures Trading Commission (CFTC) released draft language for debate the day before a December 9 meeting, only to quickly withdraw it after failing to win the support of at least two of its five commissioners. A week later, it released a revised set of rules – a 185-page tome, co

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