The trade body has welcomed the no-action relief extended to buy-side firms over oral records
The decision by the US Commodity Futures Trading Commission
(CFTC) to exempt asset managers from recordkeeping requirements
will encourage swaps trading on new electronic platforms, said
the Securities Industry and Financial Markets Association
(SIFMA), writes Joe Parsons.
On April 25, the US derivatives watchdog issued a no-action
letter providing relief to commodity trading advisors and asset
managers that are members of swap execution facilities (Sefs)
from oral recordkeeping of swaps trades.
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