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March 16, 2013

FT article: BBG threatens to sue CFTC

FT article: BBG threatens to sue CFTC (subs required) Bloomberg has taken the first step towards suing CFTC over what they see as an un-level playing field in margin holding periods and block sizes between exchange traded interest rate swapfutures and SEF traded interest rate swaps (Bloomberg's All-Q is intending to be one of the approved SEFs).  Futures have a CFTC prescribed minimum margin holding period of one day and CME / ERIS have set  IR swapfutures holding periods of 2 days CME deliverables and ERIS standards (and 5 day for ERIS flexes) whereas swaps have a CFTC prescribed minimum holding period of 5 days.   Block sizes are also to be set by CFTC for swaps whereas exchanges set them for swapfutures.


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