FIA mulls new clearing plan

Futures Industry Association (FIA) is reviewing the feasibility of establishing a Centralised Capital Facility (CCF) to allow futures commission merchants (FCMs) and their customers to make more efficient use of their capital through portfolio margining across all markets.

Speaking before the House Committee on Agriculture's Subcommittee on General Farm Commodities and Risk Management last week, FIA president John Damgard said the association's Competitive Clearing Committee was considering the CCF as an...