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US SEC proposes rules for swap trading facilities
WASHINGTON Feb 2 (Reuters) - U.S. securities regulators proposed new rules on Wednesday designed to improve the pricing of swaps by moving some of them onto regulated trading venues.
The Securities and Exchange Commission agreed in a unanimous vote to put the rules out for public comment. The rules would implement a key provision in the Dodd-Frank law by allowing investors for the first time to see the prices that dealer banks like JPMorgan (JPM.N) and Goldman Sachs (GS.N) are charging their customers.
Accomplishing this goal would require certain over-the-counter products to be traded on exchanges or a new kind of alternative platform known as a "swap execution facility," or SEF. (Reporting by Sarah N. Lynch; Editing by Lisa Von Ahn)
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