CFTC Exempts Swaps Among Affiliates From Clearing Rules

Law360, New York (April 2, 2013, 1:30 PM EDT) -- The U.S. Commodity Futures Trading Commission on Monday said that banks and other firms will not have to subject swap transactions among their own affiliates to new clearing rules required by the Dodd-Frank Act.

Dodd-Frank called for most swap and other derivative transactions to go through central clearinghouses and in some cases to be traded on exchanges as a way to bring transparency and safety to the approximately $639 trillion global market for derivatives. The CFTC's rules for cleared swaps trading went into effect in March....
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