'Significant Change' Ahead for OTC Swaps

摘要

Speaking at an industry event last week, US Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad emphasized the need for "significant change" in the over-the counter swaps market. "Prices in energy commodity markets are important metrics that can profoundly impact our economy," Massad said at the monthly Natural Gas Roundtable in Washington, D.C., adding that while the swaps market has "served the needs of commercial end-users very well," excessive risks in certain parts of the swaps market helped contribute to the 2008 financial crisis.