CFTC Asks Judge To Gut Suit Over Swaps Data Rule

Law360, New York (June 28, 2013, 7:11 PM EDT) -- The U.S. Commodity Futures Trading Commission urged a Washington federal judge Friday to pare Depository Trust & Clearing Corp.'s suit accusing the commission of making an anti-competitive policy change that benefited rivals, saying DTCC has failed to state claims under the Administrative Procedure Act.

DTCC alleges the commission unfairly reversed course on a Dodd-Frank Act rule in response to a lawsuit filed by rival clearinghouse CME Group Inc. DTCC says the agency approved rules that allowed CME and IntercontinentalExchange Inc. to route information about swaps trades...
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