Derivatives view from Washington

The deadline for implementation of the Dodd-Frank trading rules is July 15. The worry is if the deadline is missed some derivative trades may become illegal. But conversely there are worries over rushing the changes and that the US may suffer from being the first to regulate. John Damgard, president of the Futures Industry Association, co-host of this week's IDX derivatives conference in London, explains to Jeremy Grant how the industry is coping and the importance of regulatory cooperation across the globe.