Watchdog seeks data on swaps

City A.M. Reporter
THE TOP American derivatives regulator is said to be probing the legality of a large number of trades in energy and metals markets, asking the largest banks for data going back to 2010.

The Commodity Futures Trading Commission is one of the US regulators writing new rules for the $650 trillion swaps market, as politicians across the world crack down after the credit meltdown, to make it more transparent.

The CFTC’s probe is believed to have focused on whether traders were using over-the-counter swaps markets to trade futures.