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U.S. swaps regulator wants tighter clearing house rules 

December 8, 2014
Douwe Miedema, Reuters

Regulators should consider tighter rules for clearing houses given their crucial role as guardians against market routs after the 2007-2009 credit crisis, a senior U.S. swaps regulator said on Thursday.

The Commodity Futures Trading Commission should take a first step towards subjecting clearing houses to more standardized regular checks of their financial health, known as stress tests, CFTC Commissioner Mark Wetjen said.

"The CFTC should begin a public dialogue to consider these issues, and should do so through a concept release seeking comment or through one of its advisory committees," he said in a speech.

A concept release is a document the industry can comment on, and often a first step towards rule-making.

Wetjen said he would call a meeting of the agency's Global Markets Advisory Committee, a group to consult with the industry that he chairs, to discuss the issue "this winter."

Read more: Reuters

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