WASHINGTON -- A group representing state and local government finance officers voiced opposition yesterday to proposals released by the Commodity Futures Trading Commission to ease government regulation for an established professional trading market.

"We do not support the establishment of a 'professional trading market' as outlined in the proposed rule or any other action that might decrease regulation of any aspect of the derivatives market at this time," the Government Finance Officers Association said in a comment letter it submitted to the futures trading regulator.

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