FINRA proposed a rule change to extend the credit default swap ("CDS") margin pilot program in FINRA Rule 4240 to July 18, 2019. The program, which is set to expire on July 18, 2018, concerns margin requirements for certain transactions in credit default swaps that are security-based swaps. FINRA requested an extension to consider (i) the "continuing development of the CDS business and ongoing regulatory developments" and (ii) additional amendments to the pilot program.
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