CFTC’s aim is 'not just' to expand clearing, Massad says
Agency will not “mandate a lot of products just to increase clearing”
The goal of the Commodity Futures Trading Commission (CFTC) is not to increase the amount of clearing, according to its chairman, Timothy Massad, but to mandate clearing where the agency believes it can reduce systemic risk.
Massad was speaking during a panel debate of the CFTC's Market Risk Advisory Committee in Washington, DC on November 2, which focused on whether central counterparties (CCPs) gave due consideration to the potential difficulties of porting the accounts of a defaulting member
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