Commodity Futures Trading Commission Chairman Gary Gensler said forging an international agreement on margin requirements for derivative trades that don't pass through clearinghouses is a "key issue" that must be resolved. Gensler also said the EU should revamp the Markets in Financial Instruments Directive as it relates to trading over-the-counter derivatives on regulated markets. Regarding the prospect of Greek credit default swaps being triggered because of a bond swap with private investors, Gensler said that generally, "it's really critical that hedgers have the ability to use a contract and know what they are getting."

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