CFTC bows to agency desk concerns with further relief letter
The US Commodity Futures Trading Commission (CFTC) has granted further relief to foreign exchange prime brokers in the application of the Dodd-Frank Act external business conduct standards as they relate to business transacted with agency desks in non-spot FX products, marking a victory for a coalition of eight agency firms that has been lobbying the CFTC in recent weeks.
The time-limited relief letter was published yesterday and applies to forwards, swaps, options and non-deliverable forwards
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