External Meetings: Meeting with Managed Funds Association

Managed Funds Association discussed the following aspects of the FNPRM:~~~ ~~~- Recommended that swap categories be estabished based on product type for each asset class, e.g.; also recommended separate categories for CDS for indexes, options, and tranches; ~~~ ~~~- Opposed use of 3-month data set in calculating minimum block sizes and recommended conceptual test to check minimum block sizes against current market conditions ~~~ ~~~-  Recommended that proposed cap sizes should not exceed minimum block sizes