March 18, 2010

CFTC Gensler: Determined To Reform OTC Market

By Natasha Brereton – Dow Jones Newswires

LONDON -(Dow Jones)- Commodity Futures Trading Commission Chairman Gary Gensler said Thursday the U.S. is determined to press ahead with reforms to the over-the-counter derivatives market, which should be implemented during 2011.

Gensler has been calling for much tighter regulations for all routine over-the-counter products, from interest-rate swaps to credit-default swaps. He wants standard products to be executed on trading platforms and routed through clearing houses, which guarantee trades.

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Last Updated: February 25, 2011