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Clearinghouses Get CFTC Scrutiny

Agency will bolster examinations of clearinghouses for swaps trades to ensure they don't create new threats to stability of financial markets.

By Silla Brush and Robert Schmidt, Bloomberg | Updated on September 08, 2014

The U.S. Commodity Futures Trading Commission (CFTC) plans to intensify oversight of swaps clearinghouses to ensure they don’t threaten the financial system they are meant to help secure.

CFTC Chairman Timothy Massad said in a Sept. 5 interview that his agency will bolster examinations of clearinghouses, which process trillions of dollars in transactions and are potentially vulnerable to market shocks or cyber attacks. The agency is working with the Federal Reserve on the effort, he said.

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