CFTC urged to exclude cleared and exchange-traded swaps from 'de minimis' count

16 August 2018 9:40pm
The US Commodity Futures Trading Commission should exclude cleared and platform-traded swaps from its tally of firms’ derivative business toward a registration threshold, the biggest US clearinghouses and a foreign bank group said.

If the CFTC were to concur while permanently adopting the proposed $8 billion 'de minimis' cutoff, it could significantly reduce the number of banks subject to heightened oversight as swap dealers.

CFTC Chairman Christopher Giancarlo has said he favors an exemption for cleared swaps from the threshold count.