As regulators release increasingly specific requirements for
trading derivatives under the Dodd-Frank Act, structured
finance attorneys see the agencies approaching the limits of
what can reasonably be standardised.
The pressure to move all trading through central
clearinghouses and exchanges has some industry participants
worried that the over-the-counter (OTC) swap market will be
Last month the Commodity Futures Trading Commission (CFTC)
proposed rules regarding swap trading relationship documents.
The proposal advocates standardised documentation such as the
International Swaps and Derivatives Association master
agreements, as well as enforceable...