Commissioner Giancarlo Supports Recent Steps by CFTC to Improve Swaps Trading Rule

CFTC Commissioner J. Christopher Giancarlo issued a statement commending the CFTC for its recent steps to improve the regulatory framework for swaps trade execution and swap execution facility ("SEF") operability.

Commissioner Giancarlo stated that the CFTC's recent implementation of "commonsense measures" address the concerns raised in his January 2015 White Paper; namely, "streamlining the process of correcting error trades, flexibly interpreting SEF's financial resources requirement and simplifying swap trade confirmations by SEFs."

See: Commissioner Giancarlo's Statement.
See also: CFTC Commissioner Giancarlo Releases Swaps Trading Rules White Paper (with Patel Comment and Delta Strategy Group Summary) (January 29, 2015);
Related news: CFTC Issues Guidance for SEFs on Calculation of Projected Operating Costs (CFTC Letter 15-26) (April 23, 2015); CFTC Issues No-Action Relief Regarding Trade Confirmation Requirements, Reporting and Erroneous Swap Trades (CFTC Letters 15-24 and 15-25) (April 22, 2015); CFTC Commissioner Giancarlo Discusses His White Paper, Falling Oil Prices and CFTC Priorities (Energy Metro Desk) (February 12, 2015); Commissioner Giancarlo Discusses Wish List for the CFTC in 2015 (Energy Metro Desk) (with Lofchie Comment) (December 29, 2014).

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