European MTFs in limbo over CFTC compliance ahead of May 15 deadline

Frustrations grow over lack of CFTC communication

latency-clock-oct2013

European swap trading platforms have hit out at the US Commodity Futures Trading Commission (CFTC) over its compliance standards, as they face having to shut US-based clients out of their platforms on May 15 if it fails to clarify guidance by then.

The platforms, designated as multilateral trading facilities (MTFs) under the European Union's Markets in Financial Instruments Directive (Mifid), are able to offer services in the US, or to US firms, until May 15, after which they must prove that the

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