CFTC proposals leave cloud over FIA-Isda clearing contract
Key elements of a new industry clearing document would be barred by a US Commodity Futures Trading Commission proposal introduced in response to the project – but the move has revealed rifts at the heart of the agency. Peter Madigan reports
A July 19 decision by the US Commodity Futures Trading Commission (CFTC) to shut the door on an industry-run documentation initiative has revealed a host of tensions: between dealers and clients, between dealers and other dealers, and – more remarkably – within the CFTC itself. The decision came in the form of a notice of proposed rule-making, like the scores of others the agency has been given the task of issuing as part of the Dodd-Frank Act, but – unlike those other proposals – this one wasn
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