CFTC OFFERS OLIVE BRANCH TO EUROPE REGULATION

摘要

Five years after the Pittsburgh G20 summit, a newly sworn in Commodity Futures Trading Commission (CFTC) commissioner has pledged to push for a rewrite of the CFTC swap execution rules, in a bid to avert a trade war between the US and Europe over derivatives clearing. In his keynote address at the Global Forum for Derivatives Markets, 35th Annual Burgenstock Conference, held in Geneva in September, CFTC commissioner J Christopher Giancarlo outlined what he called "the looming cross-Atlantic derivatives trade war: a return to Smoot-Hawley", and stressed the need for greater co-operation between regulators.