Editorial - Having their Phil

22 Aug 2005

It is almost a truism in the market that consolidation amongst the six US options exchanges is inevitable; in fact, it is almost as commonly held a view as the belief that there will be consolidation in the ISV industry. The news that Philadelphia Stock Exchange (PHLX) has attracted four new partners and could in the not-too-distant future find itself nearly 90% owned...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.