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Giancarlo: CFTC has no right to end swap market split
The CFTC has no mandate to decide on the appropriate structure for swap market liquidity, commissioner argues at conference
![j-christopher-giancarlo j-christopher-giancarlo](/sites/default/files/styles/landscape_750_463/public/import/IMG/441/302441/j-christopher-giancarlo.jpg.webp?h=dabf901b&itok=BxXT8Jbt)
The Commodity Futures Trading Commission (CFTC) has no authority to create an all-to-all US swaps market, and liquidity will suffer if the agency tries to remove the barriers dividing the market into interdealer and dealer-to-client liquidity pools. Those were the opinions voiced by CFTC commissioner Christopher Giancarlo at a conference in New York on February 10.
"Markets will evolve from a dealer-to-dealer and dealer-to-client market-place to something that looks more like an all-to-all
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