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Buyside firm the D.E. Shaw Group is placing trade restrictions on U.S. counterparties that have not yet registered as swap dealers under the U.S. Commodity Futures Trading Commission's Dodd-Frank over-the-counter derivatives market reforms.
Ted MacDonald, managing director and treasurer at D.E. Shaw, said on the "Where Are We On Implementation" panel at the International Swaps and Derivatives Association's annual general meeting in Singapore that the practice is part of the firm's strategy to remain compliant with the CFTC's rules. "Not because we would never trade with [those not registered], but because if we are going to trade, we have to make sure that...