FCMs back CFTC proposal granting opt-out from CME oversight
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New rules aim to address conflicts of interests at vertically integrated exchange groups
Clearing industry sources have welcomed a new proposal from the US derivatives regulator that will allow members of CME to select the National Futures Association – rather than the Chicago bourse – as their designated self-regulatory organisation (DSRO).
Futures commission merchants (FCMs) have long complained that CME’s decision to establish an affiliated FCM, known as F&O Financial, represented a
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