5/17/2013

The Commodity Futures Trading Commission has approved rules governing swaps transactions in what is seen as a compromise. For example, traders must request quotes from two counterparties, rather than the previously proposed five, before a deal. Also, transaction prices must be made public after a swap has cleared. "This is a paradigm shift for the American markets," CFTC Chairman Gary Gensler said. "When light shines on a market, the economy and public benefit."

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