Gensler defends new CFTC block trade proposals

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The head of the US Commodity Futures Trading Commission (CFTC) has defended the agency's proposals on block trades against claims that the revised methodology was reverse-engineered to ensure only a predetermined portion of the market would qualify for the exemptions on offer.

Trades big enough to be defined as blocks do not have to be executed on a swap execution facility (Sef) and are also subject to less stringent reporting rules – latitude dealers argue is necessary to ensure they can hedge

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