Ananda Radhakrishnan, director of the division of clearing and intermediary oversight at the Commodity Futures Trading Commission, has said the soon-to-be launched credit default swaps clearing systems from CME Group and Intercontinental Exchange will be primarily overseen by separate regulators.
Testifying before a the US House of Representatives’ Committee on Agriculture on Thursday November 20, Radhakrishnan said the CME Group offering would be primarily regulated by the CFTC and the ICE solution by the Federal Reserve.
Radhakrishnan’s comments came after the leading US financial regulators – the CFTC, Fed...