NFA rule change spurs STP development
NEW YORK - Global banks are changing the way they process retail foreign exchange tickets, in response to increased capital requirements coming into force in November.
New rules from the National Futures Association (NFA) in the US mean that, from November 30, brokers that do not straight-through process 100% of their customer tickets to banks must set aside an additional 5% of customer liabilities in excess of $10 million. That comes on top of the $20 million capital requirement imposed on all
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