Exchanges and Futures Industry Association (FIA) submitted comment letters to Commodity Futures Trading Commission (CFTC) last week taking opposing views regarding new rules on oversight of self-regulatory organisations (SROs).
CFTC has been examining SROs for months to determine what, if anything, it should do differently regarding exchanges that have their own regulatory oversight authority.
In his letter to Commodity Futures Trading Commission, FIA president John Damgard asserted that "recent developments in the futures markets, such as the demutualisation of SROs, competition among organised exchanges...