By BEN PROTESS
With or without new rules, the derivatives industry is gearing up for big changes.
Three years ago, the complex securities wreaked havoc on Wall Street, prompting Congress to overhaul the long-unregulated market. The Dodd-Frank financial regulatory law requires companies to trade credit-default swaps and many other derivatives contracts through regulated exchanges or on a new invention known as swap execution facilities, or S.E.F.’s.
