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CFTC Plan May Force Ownership Changes at LCH.Clearnet, Tradeweb

LCH.Clearnet Ltd., Tradeweb Markets LLC, NYSE Euronext and other companies may be forced to change their ownership structure under proposed rules by the Commodity Futures Trading Commission.

The CFTC is considering capping ownership stakes in swaps clearinghouses, exchanges and trading systems at 20 percent for individual banks and other users of derivatives, people familiar with the matter said yesterday. The CFTC, which will present its first proposed rules tomorrow for the $615 trillion over-the-counter derivatives market, may not grant exemptions for existing companies, said the people, who declined to be identified because the talks haven’t been made public