10 years ago
FIA unveils common clearing planThe momentum towards common clearing in Chicago was given another hefty shove last week when US Futures Industry Association unveiled its own detailed proposals. The proposals put together by a committee by Morgan Staley clearing chief, John Davidson, received a generally favourable reaction from futures exchanges – although there were also some sticking points. Under the FIA Plan, clearing members would get a majority of ownerships in the new unifed clearing house, with 51% of votes as...