Swaps players seek clarity from U.S. regulators

Chris Doering and Sarah N. Lynch of Reuters report on the roundtable held by the Commodity Futures Trading Commission (CFTC) and Securities Exchange Commission (SEC) on May 2, recounting how banks and major market participants stressed the need for a timeline for implementation of rules under Dodd-Frank. The reporters noted the growing concern the industry has for the first phase of implementation, including commentary from Tradeweb CEO Lee Olesky, suggesting registration for swap execution facilities (SEFs) and central counterparties (CCPs) could be the first step toward implementation.