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Article: CFTC passes new rules to ease trade regulations.(Commodity Futures Trading Commission)
- Article from:
- The Bond Buyer
- Article date:
- September 22, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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State and local governments will not be restricted from investing in financial products traded in less-regulated exchange markets under new rules passed yesterday by the Commodity Futures Trading Commission.
The futures trading regulator approved a three-year pilot program to partially deregulate certain exchange trades, including complex financial derivatives, as long as they are limited to sophisticated investors. The agency determined that all state and local governments would be qualified to invest in these so- called professional trading markets, regardless of size.
"The comment was uniformly negative toward excluding municipalities from this market ...