Commodity desks breathe sigh of relief over Volcker

Dodd-Frank rule seen having muted impact on market-making by banks

Rule is named for former Federal Reserve chairman Paul Volcker

Despite early worries that the Volcker rule would stifle the ability of US banks to trade commodities, the rule's actual impact on Wall Street commodity businesses will be much more modest than some market participants initially feared, according to senior traders. "Things are not as bad on the Volcker front as they first seemed," says one New York-based source at a major commodity derivatives dealer. The Volcker rule, which was required as part of the US Dodd-Frank Act and finalised in Decem