U.S. and Europe Do a Derivatives Deal
The Commodity Futures Trading Commission and European Union regulators reached a deal today on cross-border rules for trade in derivatives -- a $633 trillion (yes, trillion) global market. This ended, for now, a debate that had pitted not just the EU but also a lot of U.S. politicians, banks and regulators, including some at the CFTC, against the commission's chairman, Gary Gensler.
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