Commodity end-users fret over shrinking number of FCMs

Costly new rules for futures brokers come under fire at CFTC meeting

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CFTC, Washington, DC

Commodity market participants are concerned about the dwindling ranks of US futures commission merchants (FCMs) and the impact of new rules that make it harder for them to stay in business, officials at the US Commodity Futures Trading Commission (CFTC) heard at a September 22 meeting.

"We are growing increasingly concerned about the health of this sector and believe that, particularly with many swaps now being pushed through clearing houses per the [US Dodd-Frank Act] mandate, we arguably need