CFTC/SEC swap product definitions 'irrational', say derivatives lawyers

Steve Lofchie
Lofchie: "differing degrees of irrationality throughout Dodd-Frank"

Derivatives lawyers have attacked proposed Dodd-Frank Act swap product definitions as "irrational", claiming the delineation of supervision between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) will seriously impede the ability of market participants to hedge their positions.

Under the 83-page proposed treatment, which was published in the Federal Register on May 23, commodity, equity, interest rate, broad-based credit derivatives indexes and ce

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