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Reprieve for dealers as CFTC extends business conduct deadline

Ten-week extension comes as welcome surprise to dealers, but industry still has concerns about timing and content of new rules

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The Commodity Futures Trading Commission (CFTC) has extended the compliance deadline for new business conduct rules from October 15 to January 1 next year, much to the relief of dealers - and clients that would have been frozen out of the over-the-counter derivatives market if banks had been unable to amend tens of thousands of documents in time.

Dealers argued it would be impossible to make the

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