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NOT A SUBSCRIBER?Climate change bill contains swap surprisePosted on June 29, 2009 5:16 PM
The climate-change bill the House of Representatives passed June 26 is intended to address global warming by changing how the U.S. produces and uses energy. But tucked into the 1,201-page bill are provisions that have nothing to do with energy emissions.
One of the measures in question would ban naked credit default swaps and require over-the-counter derivatives to be traded through central clearinghouses. Another directs the Commodity Futures Trading Commission to set position limits on energy traders across all markets and brings energy swaps under CFTC oversight. The CFTC is the futures market regulator. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline.
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