CFTC tells Sefs to collect paper Isda master agreements
Platforms will need to obtain paper copies of users' contracts in order to confirm non-cleared trades
Derivatives trading platforms are protesting a shock requirement for them to obtain and store paper copies of their users' bilateral over-the-counter derivatives contracts – a policy that runs counter to years of efforts by US regulators to bring back offices into the electronic age.
The requirement was laid out by the Commodity Futures Trading Commission (CFTC) during a January 30 conference call with swap execution facilities (Sefs) to discuss footnote 195 of its core principles for Sefs. The
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