The CFTC clarified that foreign exchange (FX) spot transactions, involving currency delivery within two business days, are not swaps subject to CFTC swaps rules. The CFTC also specified that certain US Treasury exchange-traded funds (ETFs) are eligible margin collateral under CFTC uncleared margin rules (UMR), provided the ETF meets specified conditions. These actions reflect the continued fine-tuning of Dodd-Frank derivatives rules over a decade after their adoption.
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CFTC Issues Clarifications on FX Swaps and ETF Eligible Collateral
