WFE backs FCM model in debate on US rules

20th January, 2026

Narayani Srinivasan
London St Pauls

The World Federation of Exchanges (WFE) has backed fully intermediated clearing models through futures commission merchant (FCMs) in the US in a response to a regulatory consultation.

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ABN AMRO
Bank of America
CBOE
Citi
Goldman Sachs
DRW Holdings
HSBC
J.P Morgan
Marex
Morgan Stanley
SGX
SocGen
Susquehanna
MUFG Investor Services
TP ICAP
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