Scott O’Malia, a Republican commissioner who was just confirmed by the U.S. Senate this fall, issued a written partial dissent to testimony Gensler gave before the Senate Agriculture Committee on Nov. 18.
“I do believe that commercial end users should not be mandated to utilize exchange trading for all standard swaps,” O’Malia wrote. “We should enable non- exchange bilateral trades for commercial users provided the trades are reported to an appropriate trade repository.”