09 December 2016
Visit aciworldwide.com

DTCC ponders legal action over swaps trade data rules

18 January 2013  |  4704 views  |  0 Stock exchange screen

The Depository Trust & Clearing Corporation (DTCC) is threatening to sue a US regulator over how rival CME Group is being allowed to handle derivatives trading data.

Last year, as a result of Dodd-Frank, the Commodity Futures Trading Commission (CFTC) outlined plans for new rules requiring all swaps trades to be reported to trade-data repositories.

Initially, traders were told that they could use repositories of their choosing. However, in the face of a lawsuit filed by CME Group, this was changed in November, enabling the exchange operator to send data on trades it has cleared to its own repository, rather than give customers a choice of venue.

The DTCC - which does not clear swaps - argues that this is unfair and, according to the Wall Street Journal, has now threatened its own legal action, with general counsel Larry Thompson telling a conference call that the organisation "is keeping all of [its] options open, including litigation".

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

DTCC starts sorting though Sandy-flooded securities vault

DTCC starts sorting though Sandy-flooded securities vault

15 November 2012  |  5791 views  |  0 comments | 4 tweets | 1 linkedin
Former CME software engineer pleads guilty to code theft

Former CME software engineer pleads guilty to code theft

20 September 2012  |  5305 views  |  0 comments
DTCC and Swift launch CFTC LEI portal

DTCC and Swift launch CFTC LEI portal

21 August 2012  |  6082 views  |  1 comments
CFTC to explore reference data repository for derivatives

CFTC to explore reference data repository for derivatives

14 April 2011  |  9754 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
China tops world fintech rankingsChina tops world fintech rankings
8174 views comments | 38 tweets | 31 linkedin
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
7875 views 12 comments | 15 tweets | 27 linkedin
EBA bends under weight of PSD2 mandatesEBA bends under weight of PSD2 mandates
7835 views comments | 36 tweets | 47 linkedin
Convenience needed for business banking customersConvenience needed for business banking cu...
6762 views comments | 2 tweets | 3 linkedin
Fed Governor sounds warning on alternative credit scoring dataFed Governor sounds warning on alternative...
6701 views comments | 20 tweets | 23 linkedin

Featured job

to Six-Figure Base, Commission, Benefits
London, UK

Find your next job