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FIA Groups Urge CFTC to Maintain De Minimis Swap Threshold
FIA and the FIA Principal Traders Group (FIA) have submitted a detailed letter in reposnse to a US Commodity Futures Trading Commission (CFTC) proposed rule making that urges the Commission to retain the current $8 billion de minimis threshold for swap dealer registration. The associations also suggest the CFTC modifies the calculation methodology to “better align it with the goals of a well-regulated derivatives market”. The letter states that the FIA supports the proposed $8 billion de minimis threshold for swap dealer registration purposes, as well as excepting swaps that are exchange-traded and/or cleared from de minimis calculations, without a notional backstop or haircut.

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