The top U.S. derivatives regulator is seeking documents from Wall Street banks about trades that combine features of swaps and futures since the Dodd-Frank Act became law, Bloomberg News reported yesterday. The Commodity Futures Trading Commission (CFTC) made the request in a special call for data on energy and metals trades since July 2010, when President Barack Obama enacted the rules overhaul including new derivatives measures. The information sought by the agency is about contracts known as exchange of futures for swaps, or EFS, which CME Group (CME) Inc., owner of the world’s largest futures exchange, has provided for more than a decade. The trades are conducted off exchange by brokers and then guaranteed at clearinghouses.
