CFTC's Gensler defends swaps vs futures margin disparity


Commodity Futures Trading Commission (CFTC) chairman Gary Gensler has defended the advantage handed to futures markets by the agency's margin rules, claiming the higher minimum applied to over-the-counter swaps is based on years of established practice – and said that forthcoming rules for new swap execution facilities (Sefs) will not address the disparity. That comes days after Bloomberg, which is planning to launch a new swap trading platform, threatened the CFTC with legal action ove