Another Prescription for Over-the-Counter

Congress Daily (2009 WLNR 6514585) reports that the US Chamber of Commerce is lobbying against total regulation of the over-the-counter derivatives market. Alarmed by the rapid progress of bills like the Derivatives Markets Transparency Act, "the Chamber is researching how their member companies use such OTC products and will take the results to argue to lawmakers that the market should be preserved." The Chamber wants to show that while "most derivative products [should] be placed on the burgeoning clearinghouse system [...] certain products, such as some currency contracts, that need the extra flexibility of the OTC market."