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Biggest Swaps Trades Poised for Reporting Delay in Win for Banks

  • CFTC plan would allow block trades to stay secret for 48 hours
  • Proposal is part of sweeping plan to improve derivatives’ data
CFTC Commodity Futures Trading Commission
Photographer: Andrew Harrer/Bloomberg

A push to delay reporting of transactions in the $640 trillion global swaps market is gaining steam in Washington, signaling a possible win for Wall Street banks as regulators move to overhaul how they keep tabs on trading.

The U.S. Commodity Futures Trading Commission is considering giving banks and other companies a 48-hour delay before any details of their biggest swaps trades are made public, according to four people with direct knowledge of the matter. Currently, some data about most of their transactions must be revealed within minutes.