CME Calls CFTC Swap Reporting Rules Expensive, Redundant

Law360, New York (November 9, 2012, 2:47 PM EST) -- The U.S. Commodity Futures Trading Commission's new rules for clearing swap transactions are too costly and require the same transactions to be reported to multiple entities, derivatives clearinghouse CME Group Inc. alleges in a lawsuit filed Thursday to block the rules.

As part of the Dodd-Frank reforms that come into full force in January, the rules require derivatives clearing organizations, or DCOs, such CME that are registered with the CFTC to report swap transactions they've cleared to a new entity known as a swap data repository,...
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