CFTC's Chilton blasts exchanges on block thresholds
Commissioner says lowering futures block trade thresholds skirts the intent of Dodd-Frank
By slashing minimum sizes for block trades last year, exchanges compromised pre-trade transparency in futures markets and effectively bypassed the intent of the US Dodd-Frank Act, says Bart Chilton, a commissioner with the US Commodity Futures Trading Commission (CFTC).
The comments suggest that Chilton will seek to limit the ability of designated contract markets (DCMs) – the CFTC designation for traditional futures exchanges – to set minimum block sizes. At present, DCMs enjoy a great deal of
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