CFTC moots new block trading rules

12 Jul 2004

Commodity Futures Trading Commission (CFTC) has proposed regulatory changes that would give exchanges more freedom to institute block trading. The move comes amid growing debate over the legitimacy and regulation of block trading (see FO Week vol 9 no 26).

According to CFTC, the changes have been proposed to expand allowable transactions that can be executed off...

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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.