Massad: CFTC will not challenge CME invoice spread rule
CFTC chairman says there are no plans to revisit changes to CME rule 538 on package trades
The US Commodity Futures Trading Commission (CFTC) has no plans to stop what some dealers see as an effort by a pair of US futures exchanges to monopolise the market for invoice spread trades, where a swap and a future are simultaneously executed in a single package.
Speaking to Risk on the sidelines of the Futures Industry Association conference in Florida, CFTC chairman Timothy Massad said the
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