SEC in wait-and-see mode on CDS clearing mandate
Industry sources that have met with the agency claim it has “no plan” for mandate
The US Securities and Exchange Commission (SEC) has no near-term plans to issue a long-awaited mandate for the clearing of single-name credit default swaps (CDS) in the US, according to four sources who have met with the agency in recent weeks.
Market participants see central clearing as a way to help revive the product – by reducing capital and funding requirements for dealers – and large buy-side firms recently pledged to start clearing voluntarily. Sources say the SEC now appears to be
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