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CFTC May Grant Delay on Energy Swaps Rule

Regulation deals with how energy swaps count toward $8 bln threshold for dealer oversight.

By Matthew Leising and Silla Brush, Bloomberg | Updated on October 12, 2012

The Commodity Futures Trading Commission is close to granting a delay on a rule set to take effect tomorrow affecting energy swaps clearing, potentially helping CME Group Inc. avoid customer defections, according to three people with knowledge of the matter.

The regulation concerns how crude oil, natural gas and other energy swaps cleared at CME Group and Intercontinental Exchange Inc. are tallied toward a new $8 billion threshold that the CFTC has set to determine whether a market participant should face dealer oversight. Both companies are trying to shift that activity to futures trades to avoid the threshold. While Intercontinental is ready, CME Group isn’t, said the people, who asked not to be identified because the discussions are private.

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