Pressure mounts on CFTC for relief on Sef rules
CFTC is being lobbied to grant relief on the contentious Footnote 88, which requires platforms to register as Sefs even if the products they offer are not yet made available to trade
The US Commodity Futures Trading Commission (CFTC) has been confronted by a fresh wave of industry lobbying to relax its rules on swap execution facilities (Sefs), just weeks before US trading platforms will need to be registered as Sefs to offer regulated products, including foreign exchange options and non-deliverable forwards (NDFs).
The Wholesale Markets Brokers' Association Americas (WMBAA) made representations to the CFTC earlier this month, while representatives from the International
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