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Senator seeks to force derivatives onto exchanges

Posted on 21 November 2008

From CNN: US Senate Agriculture Committee Chairman Tom Harkin, D- Iowa, plans to introduce a bill Thursday that would force all over-the-counter derivatives, including credit-default swaps, onto regulated futures exchanges.

The bill, if eventually made law, would essentially mean that all derivatives would be defined and traded as futures contracts. In forcing them to be traded this way, it would grant the U.S. Commodity Futures Trading Commission sole regulatory jurisdiction. It would also put to rest recent questions over which federal regulator should have oversight of complex swap products….. Full Article: Source


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