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CFTC proposes to amend bankruptcy rules to establish cleared OTC derivatives as a separate account class
- Katten Muchin Rosenman LLP
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- USA
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- August 14 2009
The Commodity Futures Trading Commission has proposed to amend its Bankruptcy Rules, 17 CFR Part 190, to establish cleared over-the-counter derivatives as a separate account class for the purpose of calculating "net equity" and "allowed net equity" for each customer in the event of the bankruptcy of a futures commission merchant
