Hedge Fund Push on Swaps Trades Hits Snag With CFTC’s Giancarlo
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Hedge fund lobbying hasn’t persuaded a key U.S. regulator that the government should step in to curb Wall Street banks’ power over the $700 trillion swaps market.
At issue is a requirement that customers disclose their identities when they buy and sell derivatives on some swap-execution facilities. D.E. Shaw & Co. and Citadel LLC want the Commodity Futures Trading Commission to end the practice, which they say gives banks access to proprietary-investing strategies and discourages trading.