Europe, Asia banks join US in swap dealer line-up

Asian and European banks registered as US swap dealers this week, joining Wall Street rivals in complying with new rules that aim to shed light on the opaque US$650 trillion derivatives market.

Deutsche Bank, Commerzbank, Societe Generale, BNP Paribas and Nomura were among the swap dealers listed in the registry of the National Futures Association (NFA), a US regulator.

But large energy traders such as Royal Dutch Shell, Cargill and Glencore were conspicuously absent from the list, a sign of how the market is dominated by investment banks that largely serve speculators.

via Business feed http://www.scmp.com/business/banking-finance/article/1118912/europe-asia-banks-join-us-swap-dealer-line