Fight Brews on Changes That Affect Derivatives

(Photo Credit: Andrew Harrer/Bloomberg)

By Peter Eavis

Tensions are building in an enormous market that nearly brought Wall Street to its knees in 2008.

Financial regulators are pushing for an arcane but crucial modification to the contracts that stand behind the $700 trillion global market for derivatives. The change is part of the regulators’ efforts to avoid the sort of systemic chaos that occurred after Lehman Brothers crashed.

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