CFTC, SEC request public comment to clarify definition of ‘swaps’ amid CME lawsuit
The Block·
60-second summary
The CFTC and SEC are requesting public comment to clarify the definition of 'swaps' amid a CME Group lawsuit, which was filed on Thursday over the CFTC's decision to classify perpetual futures as futures contracts rather than swaps, a move that could have significant implications for the derivatives market and potentially affect trading volumes and market liquidity.
CME Group sued the CFTC on Thursday over the agency's decision to classify perpetual futures as futures contracts rather than swaps.