CFTC rule sounds death knell for FIA-Isda trilateral give-ups


The Commodity Futures Trading Commission (CFTC) has voted to adopt rules that will prevent dealers and clients using one part of a controversial standardised clearing document published last June by the International Swaps and Derivatives Association and the Futures Industry Association (FIA).

The so-called give-up agreement was designed to tackle the risks of trades being executed but failing to clear. As part of that, an optional annex was included that made a futures commission merchant (FCM)

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