Bart Chilton, commissioner at the Commodity Futures Trading Commission, has called on the US Congress to force over-the-counter credit default swaps and other “appropriate” OTC contracts to be settled via central counterparty (CCP) clearing.
Speaking at the French embassy in Washington DC, Chilton suggested that he disapproved of the regulatory oversight recently imposed on the CDS market.
In a speech entitled ‘Driving on ice’, Chilton recommended that Congress pass three new...