Rolling spot is a swap in retail market, says CFTC’s Chilton
The speculative nature of rolling spot contracts in the retail FX market means the product will be classed as a swap under the Dodd-Frank Act, according to a senior US regulator, although the treatment of spot transactions rolled in the institutional market remains unclear.
"Rolling spot transactions are borne out of a desire to offer retail investors the ability to speculate on exchange rates, and what we've been telling people is that we interpret the rolling spot transactions with eligible
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