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External Meetings: Proprietary Trading Firms Meeting
  
    



  Meeting participants discussed application of swap dealer requirements to proprietary trading firms such as DRW, Chicago Trading Company and Infinium (the "Firms"). The firms said that treating cleared and uncleared swaps in the same way to determine if a person is a swap dealer will have an adverse effect on liquidity and transparency by discouraging the use of cleared swaps. The Firms said that application of the swap dealer capital requirements (along with other swap dealer requirements, such as the need for a chief compliance officer) to smaller trading firms would discourage innovation and competition in the swap markets.
      
  When
              09/21/2011

  Rulemaking(s)
              II. DefinitionsVIII. Process for Review of SwapsXVI. Swap Data Repositories Registration

  CFTC Staff
              Gary GenslerSarah JosephsonTim KarpoffDan BerkovitzJeff BurnsMark Fajfar

  Visitor(s)
              Don Wilson, DRWRahm Emanuel, Mayor of ChicagoErin Chern, Chicago Trading CompanyTom Hanley, InfiniumGreg Eickbush, InfiniumJim Newsome, Delta StrategiesGraham Harper, Delta StrategiesLara Driscoe, Delta Strategies

  Organization(s)
              DRWChicago Trading CompanyInfiniumDelta Strategies


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