, our hope is that that will begin some time in t the clearinghouses just in the last two weeks have given their first draft submissions to us, the large clearinghouses. so we're starting to walk through those submissions. the interest rate swap market right now, there's a clearinghouse out of london that clears i think it's a quarter of a $250 trillion of dealer-to-dealer swaps. the emergency swap markets, the two u.s. clearinghouses and a london clearinghouse, between the three of them, clear the vast large significant sums in that market place. credit to default swap market, a quarter to half is already cleared all voluntarily. but it gives you evidence how clearable this marketplace is. >> i'll go here and then there and there. >> can you explain under -- >> can you give me your name? >> jeff with iv capital. how are you? can you explain the cost benefit analysis regarding the implementation of dodd-frank? in other words, under section 15-a of the commodities futures act, companies are refusing to supply the ft at times information. in other words, how is the cftc supposed to let alone implement and weigh a cost benefit analysis as

the spring. the clearinghouse is just in the last two weeks have done their first draft submissions to us, the largebruary they did. so we're certain to walk through that, those submissions. the interest-rate swap market right now there's a clearinghouse out of london that clears, i think it is a quarter of a quadrillion, meaning like 250 trillion dollars of dealer to dealer swaps. the energy swap markets, the two u.s. clearinghouses and london clearinghouse between the three of them clear the vast, large significant sums in that marketplace. credit default swap market i think is over a quarter to a half has already cleared. that is all voluntarily. it gives us some evidence how clearable this marketplace is particularly in interest rates in the energy markets where clearinghouses have been set up for 10 years to do so. i'll go here and there, there. >> could you explain under, -- >> can you give me your name? >> sorry, jeff krasney. ib capital. >> yes jeff. >> how are you? can you explain the cost benefit analysis regarding the implementation of dodd-frank? under section 15-a of the commodities fut

the spring. the clearinghouse is just in the last two weeks have done the first draft submission to us, a large clearinghouses. in february they did. so we are starting to walk through that. the interest rate swap market right now, there's a clean house out of london that clears, i think it's a quarter of a quadrillion, meaning it's like $250 trillion of dealer to dealer swaps. the energy swap markets, the to u.s. clearinghouses, and a lending clean house, between the three of them clear the vast, large, significant sums in the market place. credit default swaps but credit default swaps but i think is of a quarter to half is already clear. that's all voluntarily but it gives you some evidence as to how clearable this marketplace is. particularly in interest rates in the energy markets, where clearinghouses have been set up for about 10 years to do so. >> i'll go here and then there, there. >> could you explain under -- >> could you give me your name? >> jeff. heidi capital, how are you? can you explain the cost-benefit analysis regarding the application of dodd-frank? in other words, under section 15-a of the

clearing houses, and the lending clearinghouse, between the three of them clear large, significant sums in the marketplace. credit default swaps organizing is over a quarter to half is already clear. that's all voluntarily. but it gives you some evidence as to how clearable this market place is, particularly in interest rates and energy markets, where clearing houses have been set up for about 10 years to do so. >> i will go here and in there, there. >> could you explain under -- >> can you keep your name name? >> jeff. can you explain the cost-benefit analysis regarding the implementation of dodd-frank? in other words, under section 15 a. of the commodities futures act, companies are refusing to supply cftc at times information. in other words, how is the cftc supposed to create let alone implement and then way and distribute for circulation and cost benefits analysis as required by dodd frank? >> actually just is a all a bit more on this, under the commodities and exchange act, not dodd-frank, we are required to consider cost-benefit, not analysis homages to give you a little of the t

the two u.s. clearinghouses and the london clearing house, clear vast, large significance psalms in that marketplace. it gives you some evidence on this market, particularly in the interest rates. i will go here and then there. >> jeff with ib capitol. companies are refusing to comply information.'s how are you supposed to employment in a way and distribute for circulation a cost-benefit analysis as required? >> just to say a little bit more on this -- under the commodities and exchange act, not dodd- frank, we are required to look at cost benefits, not cost analysis. all of this matter is when people take these things to court. that is part of our democracy. we, as commissioners, when we do ule, we go out into the proposal stage and try to keep public input on both the qualitative and quantitative aspects of it. as jeff said, we get -- we give some input, but opposite we do not get a lot of input. part of that is because, mentors are a little bit hesitant to give away their information. part of it might be that they do not know yet. it is a very new regime. we go through all of the comments. the ch