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FORTS approves new clearing members

07 May 2008

Bank Saint Petersburg has been approved as a general clearing member on FORTS following a meeting by...

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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.