CFTC ‘neglect’ of Sef rules angers platform providers
Repeated delays to the publication of final rules on swap execution facilities (Sefs) under the Dodd-Frank Act are causing widespread frustration in the foreign exchange market as the Commodity Futures Trading Commission (CFTC) now doesn't expect to decide on the issue before late April at the earliest.
After numerous mooted deadlines had been missed since draft rules were first published in early 2011, market participants expected clarity in early March, but CFTC commissioner Bart Chilton
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