CFTC Adopts New Swaps Clearing Rules Under Dodd-Frank

Law360, New York (March 20, 2012, 2:14 PM EDT) -- The U.S. Commodity Futures Trading Commission on Tuesday adopted new rules for clearing swaps in the $700 trillion derivatives markets, its latest effort toward reining in the formerly unregulated industry and reducing the potential harm it could inflict on the wider economy.

Mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the new rules establish how quickly derivative clearinghouses must approve or reject a trade — as fast as technically feasible — and set risk management requirements for swap dealers and major market participants....
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