NFA retail FX proposals anger brokers
NEW YORK - The National Futures Association (NFA) proposals to amend rules on capital requirements and leverage on offer by retail foreign exchange brokers operating in the US has angered brokers.
The NFA made recommendations to the Commodities Futures Trading Commission (CFTC) last Monday (February 23), proposing that forex dealer members (FDMs) deposit 5% of customer liabilities when in excess of $10 million. The rule would only apply to brokers that do not use straight-through-processing (STP
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