Bloomberg considers launching futures venue, exec says

03/29/2013 | (subscription required)

George Harrington, Bloomberg's global head of fixed-income trading, said the firm is considering opening a regulated futures exchange if the Commodity Futures Trading Commission fails to resolve the preferential collateral treatment for futures compared with over-the-counter swaps. Bloomberg recently sent a letter to the CFTC requesting that the agency "take all steps necessary to stay the five-day minimum liquidation period on financial swaps, so that the same one-day minimum period applies to all cleared swaps and futures."

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