European MTFs fume over CFTC ‘incompetence’

Sef equivalency negotiations break down

cftc-hq

European trading platforms have hit out at the US Commodity Futures Trading Commission's (CFTC) ‘incompetence', following the breakdown of negotiations over the equivalency regime for non-US firms wanting to offer swap execution facility (Sef) services to US clients.

Market participants insist a simple solution could have been found before the CFTC's self-imposed May 14 deadline, but that any such hopes were quashed by the agency's intransigent approach to the issue.

"The CFTC made the process

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