CFTC's acting chairman blames Europe's venues for not registering before deadline
Mark Wetjen, acting chairman of the US
Commodity Futures Trading Commission (CFTC), has hit back at
criticism from Europe’s swaps trading venues
blaming them for failing to register for qualified status.
Under Dodd-Frank, in order for
Europe’s swap trading venues to trade with US
persons, they were required to register with the CFTC as a
qualified multilateral trading facility (QMTF) by May 15.
No MTFs had registered by the deadline
with many citing uncertainty surrounding the cross-border rules
as the reason behind that.
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