A group of small brokerages and large commodities companies persuaded lawmakers to tweak a rule that they say would have made derivatives trading more expensive for them and sent more business to Wall Street banks that already dominate the market. Companies including INTL FCStone Inc, Nomura Holdings Inc, Cargill Inc and Royal Dutch Shell Plc lobbied a congressional committee to change a rule proposed by the U.S. Commodities Futures Trading Commission on how much capital they must hold against derivatives trades as dealers. Cargill and Shell have derivatives trading arms. Under proposed CFTC rules, these companies would be required to hold more capital against certain swaps trades than banks. That is because the CFTC rules, created as part of the 2010 Dodd-Frank financial reform law, allow banks to calculate capital needs using their own proprietary models but force non-bank swaps dealers to use standardized models. By using their own models, big Wall Street banks can, for instance,
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