Officials blindsided by CFTC's Sef footnote 88, says Ferber

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Regulators on both sides of the Atlantic did not realise that a footnote in US rules on swap execution facilities (Sefs) would drag other trading platforms into the scope of the new regime, according to Markus Ferber, member of the European Parliament (MEP) and rapporteur for Europe's version of the Sef rules.

The footnote – one of more than 1,100 in the Sef rules – has caused panic among trading venues that had thought they were exempt from the regime's requirements and now face an October 2

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