CFTC Re-Proposed Rules Prohibiting Aggregation of Swap Contract Orders

On June 25, the CFTC re-proposed rules prohibiting the aggregation of orders to satisfy minimum block sizes or cap requirements with respect trades in swap contracts. In addition, the proposed rules (i) provide that parties to a block trade must individually qualify as eligible contract participants, subject to certain exceptions and (ii) require that persons transacting block trades on behalf of customers must receive prior written instructions or consent from such customers. Comments must be submitted within 30 days of publication in the Federal Register. CFTC Release.

Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, Securities Updates

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