CME rule hurts FX broker business, say participants
CME enrages brokers, who claim their once-profitable business in transitory foreign exchange EFRPs has vanished, despite the launch of a product to help offset the changes
A ban on foreign exchange transitory exchange for related positions (EFRP) at the CME has squashed business for forex brokers in the US, which have been forced to stop offering the service to clients, say market participants in New York, who accuse the firm of pushing futures business to exchange-only.
Revisions to CME's rule 538 were approved by the Commodity Futures Trading Commission (CFTC) on
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