EFP Trading Activity Increases At CME In April Despite Higher Fees, But Some Remain Wary
EXCHANGES
Despite expectations that the amount of trading in Exchange For Physicals (EFP) would taper off at the Chicago Mercantile Exchange after it dramatically increased clearing fees on the products April 1 (FX Week, March 22), in percentage terms, EFP activity has actually increased according to CME data.
The CME reports that EFP trading represented about 3.3 percent of daily activity in April as of the close of trading Friday April 26, compared with 3.14 percent in March. While some market makers
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