CFTC "got it wrong" on block trade threshold rule
Large swap definition to be re-proposed following industry backlash
Dealers will have to wait a little longer for a final rule on block trades – a size threshold above which public reporting of a trade can be delayed – after the Commodity Futures Trading Commission (CFTC) admitted yesterday it "got it wrong" at the proposal stage. That will be welcomed by banks, which have argued the proposals set the threshold too high, and would make it more difficult to execute large trades for clients.
At a commission meeting held in Washington, DC on December 20, all five
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