SEC, CFTC Team Up On New Futures Trading Rules

Law360, New York (April 6, 2006, 12:00 AM EDT) -- The banned practice of trading futures on debt indexes may soon be legal, with the Securities and Exchange Commission and the Commodities Future Trading Commission having recently agreed to jointly propose new rules that would allow the practice.

The new rules will create a new class of derivatives contracts, part of a plan set forth by the President’s Working Group on Financial Markets.

The proposed rules lay out regulatory guidelines for the derivative contracts, which stipulate that any future traded on a non-SEC-regulated exchange must be...
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