[Madiba]

Oct. 15 (Bloomberg) -- The House Financial Services Committee adopted a provision today that would require broker dealers such as JPMorgan Chase & Co. and their biggest customers to trade and clear most derivatives contracts openly.

The provision, approved 39 to 25, would require swaps dealers and major participants to trade contracts on regulated exchanges or swap-execution facilities. It exempts from those requirements so-called end-users, companies that employ derivatives to hedge operational risk. The provision was added to legislation the committee is considering to rein in the $592 trillion over-the-counter derivatives industry.