Volumes of swaps trades between US and Asian firms recover
A recent Dodd-Frank-led decline in swap volumes between Asian and US counterparties has been reversed following CFTC intervention
Swaps trade volumes between Asian firms and US firms have recovered since the US Commodity Futures Trading Commission's (CFTC) no-action relief letter earlier in October, although this remains dependent on the shape of the regulator's final cross-border rules, according to market participants.
On October 12, the CFTC softened its stance from the proposed cross-border swap activity guidelines
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