'Death Panels' for Derivatives?
Last week, several people expressed concerns over US government proposals (the Over-the-Counter Derivatives Markets Act of 2009) to mandate central clearing for some OTC derivatives-and, in some cases, to trade certain swaps on exchanges or other venues-bringing them under the purview of the Securities and Exchange Commission or the Commodity Futures Trading Commission.
In particular, the proposal that, barring some exceptions, "a swap that is standardized shall be traded on an exchange or an
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