US regulator shows the largest brokers are losing business to the next tier down
The demise of the brokers in the US has
been a recurring theme over recent years and the fact that
there used to be 150-odd futures commission merchants (FCM) in
the fabled good old days compared with less than half that
figure now (68 to be exact) is regularly cited when the US
regulator puts out its monthly numbers.
The latest CFTC figures confirmed that
trend with two more clearing brokers coming off the list but,
more interestingly, the latest data set shows most of the
largest clearing brokers saw their business shrink from March
to April this year (the latest figures available).
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