MF Global collapse should prompt rethink of CFTC rule on CCP membership, say dealers
The bankruptcy of MF Global should prompt the CFTC to reconsider the $50 million cap on minimum capital requirements set by CCPs on clearing members, say bankers
The bankruptcy of MF Global has prompted major dealers to call for the Commodity Futures Trading Commission (CFTC) to rethink a rule that would prevent central counterparties (CCPs) from requiring clearing members to hold more than $50 million in capital – a measure they claim could threaten the stability of clearing houses.
"It's a ridiculous rule, and the bankruptcy of MF Global has got to motivate regulators to revisit this requirement. We don't want to put our capital in jeopardy and
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