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ECB Threatens to Stop Trading Swaps with US Counterparties

By Matt Cameron and Peter Madigan
Published October 25 2011 Risk

The European Central Bank (ECB) has warned in a letter to the Commodity Futures Trading Commission (CFTC) that it might have to stop trading over-the-counter derivatives with US counterparties if it – and other eurozone central banks – are not granted exemptions from clearing, execution and reporting elements of the Dodd-Frank Act. The ECB also wants to be exempt from proposed rules on margining for uncleared trades.

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SEC Clarifies Relief from Robo-Swaps Rules

By Sarah N. Lynch
Published July 1 2011 Reuters

U.S. securities regulators gave more clarity on Friday on how they will temporarily shield the swaps industry from Dodd-Frank rules scheduled to automatically take effect on July 16.

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Brussels Delays Decision on OTC Rules

European lawmakers said on Monday that they would leave open for a few more months the possibility of reaching a deal on new European Union rules for over-the-counter derivatives with member states.

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CFTC to Consider Five Final Rules at July 7 Meeting

Published June 30 2011 Reuters

The U.S. futures regulator said on Thursday it will hold its next rule-making meeting on July 7 as it commences the arduous task of finalizing nearly 50 measures tied to the Dodd-Frank legislation.

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CFTC's Latest Plan For Swaps May Save Banks Billions

By Justin Grant
Published: January 26 2011 Advanced Trading

The rigid regulatory climate may have some on Wall Street feeling a bit uneasy these days, but at least one regulator is probably winning fans with a plan that may save banks billions in the long run.

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Joint Venture To Develop Collateral Message System

By Telis Demos
Published: January 24 2011 FT

A new venture is underway to make it easier to communicate collateral requirements electronically, which will be a key part of a more active market for clearing and trading over-the-counter derivatives.

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CFTC's Proposed Voting Caps May Not Affect Existing Companies

By Sarah N. Lynch
Published: October 7 2010 Dow Jones Newswires

A proposal by regulators to limit the voting power that certain companies like banks wield in derivatives clearing and trading ventures may not have the teeth some industry officials once feared.

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Swaps Trading Systems Should Be Broadest Possible, Lobbying Group Urges

By Matthew Leising
Published: October 7 2010 Bloomberg

U.S. regulators should define a new way of trading derivatives more broadly than any existing exchange or system so that requirements mandated by financial reform are as flexible as possible, according to Wall Street’s swap industry and lobbying group.

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MarkitSERV To Provide Multiple OTC Clearing Options

By Telis Demos
Published: October 6 2010 FT

Buyers of over-the-counter credit derivatives will now have access to multiple clearing houses via a new platform from MarkitSERV, the company announced on Wednesday.

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CFTC Bank-Stake Proposal, Muni Fees, Geithner’s Bet: Compliance

By Carla Main
Published: October 4 2010 Bloomberg

Banks and major swaps users would be limited to owning no more than 20 percent of derivatives clearinghouses, exchanges and trading systems, under a proposal by the Commodity Futures Trading Commission.

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