J. Christopher Giancarlo, head of the US Commodity Futures Trading Commission, acknowledged industry objections to key parts of the proposal to overhaul swap execution facility rules and expressed a willingness to review this criticism.
But he dismissed as “silly” the concerns expressed by some market participants, as well as by Democratic Commissioner Dan Berkovitz, that the proposal could turn back the clock to a market dominated by voice traders.
“I simply want to give SEFs freedom to do what Congress permitted them to do,” the CFTC chairman said in a speech at an conference* in New York last week.
Derivatives industry criticism of SEF plan to get due consideration, CFTC chief says
4 March 2019 10:07pm