CFTC releases rules for Sefs
The Commodity Futures Trading Commission released its proposed core principles for swap execution facilities in December. The rules are broader than some participants had expected, but they remain controversial. By Ned Molloy
The definition of a swap execution facility (Sef) has become one of the most controversial elements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Charged with drawing up detailed rules, the Commodity Futures Trading Commission (CFTC) released draft language for debate the day before a December 9 meeting, only to quickly withdraw it after failing to win the support of at least
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