LOOSE CHANGE
LOOSE CHANGE
An FX market consultant and former Bank of England FX official has published a technical article which seeks to refute claims by officials at the Chicago Mercantile Exchange (CME) that currency futures are cheaper to trade than OTC foreign exchange forwards because they carry lower capital requirements. Richard Comotto argues that in published material CME officials overstate the actual capital requirements on OTC forwards and ignore the exchange's own margin requirements, which he suggests
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