Fewer Firms to Fall Under US Financial Rules for Swaps Dealers

摘要

The US Commodity Futures Trading Commission (CFTC) approved a final definition of "swaps dealers" on Wednesday that will subject fewer swaps market participants to tough new financial reform regulations than the agency's previous proposal. Swaps are derivatives contracts that are traded in the unregulated, over-the-counter (OTC) market. The CFTC has been trying to define swaps dealers as it implements financial reform legislation passed after the 2008-09 financial crisis, in which credit default swaps were heavily implicated.