CFTC prepares for reauthorisation

15 Mar 2004

Commodity Futures Trading Commission (CFTC) last week announced moves to replace its "woefully out of date" electronic trade monitoring system and boost staffing in the run up to reauthorisation by the US government.

Overhauling the trade surveillance system (TSS) will cost...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.