5/9/2013

The Commodity Futures Trading Commission is reportedly considering decreasing the number of quotes it requires a buyer to request before trading a swap, say sources with knowledge of the situation. Market participants have raised concerns about a CFTC proposal to require five quotes. "Requiring portfolio managers to widely broadcast their trading position could negatively impact the prevailing price of their trades, making it more expensive and difficult to hedge their clients' risk," said Tim Cameron, managing director and head of the asset management group at SIFMA.

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