22 August 2017
Find out more

DTCC ponders legal action over swaps trade data rules

18 January 2013  |  4924 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  |  5987 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  |  5562 views  |  0 comments
DTCC and Swift launch CFTC LEI portal

DTCC and Swift launch CFTC LEI portal

21 August 2012  |  6315 views  |  1 comments
CFTC to explore reference data repository for derivatives

CFTC to explore reference data repository for derivatives

14 April 2011  |  10030 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12231 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
10751 views comments | 22 tweets | 33 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10103 views 0 | 6 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9991 views comments | 10 tweets | 8 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
9886 views comments | 21 tweets | 34 linkedin