Gensler defends new CFTC block trade proposals
The head of the US Commodity Futures Trading Commission (CFTC) has defended the agency's proposals on block trades against claims that the revised methodology was reverse-engineered to ensure only a predetermined portion of the market would qualify for the exemptions on offer.
Trades big enough to be defined as blocks do not have to be executed on a swap execution facility (Sef) and are also subject to less stringent reporting rules – latitude dealers argue is necessary to ensure they can hedge
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