CFTC drops 85% exchange-trading limit
Final rule scraps controversial requirement that 85% of any contract must trade on exchanges
A controversial Commodity Futures Trading Commission (CFTC) rule, which would have forced US over-the-counter market participants to trade an overwhelming majority of futures and options on derivatives exchanges, has been dropped from final rules for designated contract markets (DCMs).
At a commission meeting held in Washington, DC yesterday, all five CFTC commissioners voted unanimously to approve final core principles for DCMs that remove many of the more prescriptive regulatory elements DCMs
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