Swap Venues Watching Countdown to New Rules

By Katy Burne


Javelin Capital Markets kicked off a 90-day countdown to new swaps trading rules when it filed permission to list swaps on its venue through the Commodity Futures Trading Commission. A recent amendment of that October filing won't delay the onset of those new mandates. The CFTC extended its comment period by two weeks, until Dec. 2, but CFTC Chairman Gary Gensler said Wednesday the "trade execution mandate [was] likely going live in the first quarter of 2014." Still, there is a chance Gensler, who is set to step down, may push to sign off on the "made available to trade" filing by year-end, some believe, potentially bringing the new swaps trading rules in sooner than expected.