Buy side hits out at CFTC's foreign CCP proposals
BlackRock, Citadel and Eaton Vance criticise CFTC proposals that would prevent them using some foreign clearing houses, while CME Group attacks the EU's approach to the same issue
US buy-side firms have criticised Commodity Futures Trading Commission (CFTC) plans to bar them from using some foreign swap clearing houses, claiming they could be shut out of important pools of liquidity.
"We have long been proponents of the transition of these markets to central clearing, because it creates a more fair, equal and open competitive market. Making distinctions between who can access a cleared product set and who can't is antithetical to that policy goal," says Stephen Berger
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