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US CFTC nominee backs OTC derivatives clearing

Posted on 05 February 2009

From Reuters: The Obama administration’s nominee to regulate the U.S. futures market said in a letter released on Wednesday that he supports mandatory clearing of “standardized” derivatives sold over the counter.

Nominee Gary Gensler said, “I support stronger regulation of U.S. commodity markets” in an 11-page letter that responded to questions from Sen Carl Levin, Michigan Democrat. The letter, dated Jan. 26, was released by Levin….. Full Article: Source


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