Exchanges tight-lipped on FX ambitions
A letter from four financial trade associations objecting to
planned amendments to the oversight of retail FX transactions
as part of the reauthorisation of Commodity Futures Trading
Commission (CFTC) has been sent to the Senate's agriculture
The letter originated from Futures Industry Association
(FIA), Bond Market Association, International Swaps and
Derivatives Association and Securities Industry Association.
Their central objection was that the draft of reauthorisation
legislation could leave CFTC with jurisdiction over trading
areas that it would not be sufficiently resourced to adequately
The letter said, "Of primary concern? are provisions that
would modify the so-called Treasury amendment [to the 2000
commodity futures modernisation act (CFMA)] - provisions
painstakingly crafted to balance the differing interests of all
federal financial regulators."
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.