The articles speak for themselves, so I won’t reiterate what they’ve already said. But in short, the industry is continuing to push for less prescriptive regulations all the while preparing for what is to come.
“The main message we are hearing from the industry is that they should be left to decide how to trade swaps and that the rules not be overly prescriptive,” says Kevin McPartland, director of fixed income research at Tabb Group.
“Despite the unknowns, complexities and costs, the dealer community feels that it is ready for change,” says Mr McPartland. “Yes, lobbying will continue on both sides and politics will persist, but the dealer community sees the advantages of a mostly cleared swaps market.”