CFTC proposal sparks scrap over CCP membership
CFTC proposal sparks row over CCP membership
Plans to lower the bar for entry to the cleared derivatives space have sparked a fierce dispute between the large dealers and central counterparties (CCPs) that are already members of the club, and an array of other players that don’t have enough capital – or lack the trading and technology muscle – to meet existing requirements. Some CCPs currently require clearing members to have as much as $5 billion in capital – but the Commodity Futures Trading Commission (CFTC) proposed during a rule
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