Massad: CFTC will not challenge CME invoice spread rule

No progress on SLR changes, but ‘good chance’ of uncleared margin deadline extension

Timothy Massad, CFTC

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 regulator will not investigate recent rule changes at CME Group and Ice, which critics claim will

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