www.stamfordadvocate.com -- Industry groups backed by Koch Industries Inc. and Cargill Inc. are fighting a Senate bill that would reshape almost 30 years of policy that allowed the $605 trillion over-the-counter derivatives market to surge and helped trigger the financial crisis in 2008.Legislation introduced by U.S. Sen. Christopher Dodd, D-Conn., would give the Commodity Futures Trading Commission authority over most of the U.S. market, the broadest expansion of its authority since becoming an independent agency in 1974."The devil is in the details, but if passed, it could be monumental," said Tom LaSala, chief regulatory officer for CME Group Inc.'s New York Mercantile Exchange, in an interview this week.The Dodd bill would give the commission the power to monitor over-the-counter trading, impose heightened capital requirements on companies with large swaps positions and limit the number of contracts a single trader can hold. The bill, which is expected to be taken up by the Senate this month, would push standardized swaps onto regulated exchanges or similar electronic systems.

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