July 30, 2009 5:25 PM

Lawmakers want traders to set aside reserves for derivatives

Trillions of dollars are traded in the so-called derivatives or swaps markets — basically speculative bets between private parties on the price of everything from currencies to oil to the possibility of debt defaults. Such private arrangements played a major role in last year's near-meltdown of gobal finance. On Thursday, proposals were unveiled on how to regulate such trading.

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