CFTC Said to Allow More Swaps Trading Via Phone in Final Rule
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The Commodity Futures Trading Commission will allow more swaps to be traded over the phone than initially indicated under proposed Dodd-Frank Act reforms, according to people familiar with the matter.
Chairman Gary Gensler outlined the changes in a meeting two days ago in New York with executives of firms that want to create regulated entities allowed to trade swaps, known as swap execution facilities, or SEFs, according to two people who attended.