CFTC gives more time to comply with pre-trade screening rules

Wed Sep 26, 2012 6:31pm EDT

(Reuters) - Ftures regulators pushed back the date when market participants must comply with certain pre-trade screening requirements for futures and swaps, the Commodity Futures Trading Commission said on Wednesday.

The CFTC said derivatives clearinghouses would have until June 1, 2013 to fully comply with rules requiring them to establish risk-based limits for certain types of trades and screen orders to ensure they comply with those limits.

The rules originally were set to take effect on October 1.

Industry groups have pushed for the CFTC to delay a host of rules called for by the 2010 Dodd-Frank financial oversight law.

Those groups say smaller market participants have not had enough time to comply with some rules, and that officials should work with international financial regulators before implementing other rules.

(Reporting By Emily Stephenson; Editing by Tim Dobbyn)

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