CFTC's Gensler: Industry is ready for March 11 clearing deadline
Preparations are "running very smoothly" says CFTC chairman, ahead of first clearing deadline
Heavy derivatives users are ready for the start of mandatory clearing in the US on March 11, according to Gary Gensler, chairman of the Commodity Futures Trading Commission (CFTC). Three classes of over-the-counter derivatives market participant become subject to the mandate in less than a week's time, with more to follow later this year – and dealers have claimed a behind-the-scenes compliance scramble is under way – but Gensler has said entities subject to the new rules appear to be ready to
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