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Gensler Says Swaps Shift Off to ‘Very Good Start’

CFTC chair assessed move to electronic trading by phone amid shutdown.

By Silla Brush and Robert Schmidt, Bloomberg | Updated on October 07, 2013

Gary Gensler spent much of the past month fending off Wall Street’s campaign to slow the move to electronic swaps trading. So when the platforms went live last week, the top U.S. derivatives regulator wasn’t going to let a government shutdown stop him from monitoring its progress.

With most of the staff at the Commodity Futures Trading Commission’s Washington headquarters on furlough, Gensler, in his final months on the job, had to pick up the phone and call around to make sure the system was working. He pronounced himself satisfied.

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