CFTC Chairman Gary Gensler said on Monday that new rules mandating the margin needed to back uncleared swap trades will be announced early next year.Read More
The CFTC will set a two-minute time limit for swap dealers to accept or reject trades. The new time limit goes into effect on Oct. 1.
Speaking in front of European Parliament on Monday, CFTC chairman Gary Gensler addressed the issue of whether LIBOR will survive its recent setbacks.
In the wake of a scandal over the rigging of LIBOR by Barclays and other British banks, IOSCO has created a taskforce to investigate how the widely used benchmark rate is used and recommend improvements.