Absence of QMTF registration could cast doubt over the viability of the CFTC's Path Forward
The decision by
Europe’s largest swaps trading venues not to
register with the US Commodity Futures Trading Commission
could have serious implications for the global swaps
The period for
Europe’s multi-lateral trading facilities (MTF)
to register with the CFTC to trade with US persons ended on
May 15, but Europe’s interdealer brokers, such
as Tradition and GFI, received little demand from clients to
sign up, and, therefore, did not do so.
This raises serious
doubt over the joint US-EU 'Path Forward’
regulatory framework, while also further fragmenting the US
and European swaps market.
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