CFTC Chair Says Still Weighing Clearing US Treasuries Abroad
- Derivatives regulator is working with Treasury; weighing risks
- Behnam won’t finalize ban on political contracts before Trump
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The top US derivatives regulator is still assessing the risks of clearing US Treasuries abroad, an outcome that could impact plans by Cantor Fitzgerald LP Chief Howard Lutnick to compete with CME Group Inc.
The Commodity Futures Trading Commission continues to work with the Treasury Department on the assessment, Rostin Behnam, the agency’s chairman, said. His comments follow a letter sent by Democratic Senator Dick Durbin of Illinois — CME’s home state — warning the agency of possible risks to the stability of the US sovereign-debt markets should US Treasury futures be cleared in foreign jurisdictions.