Exchanges defend self-certification at CFTC meeting

Listing of bitcoin futures has sparked calls for more transparency on new contracts

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US futures exchanges are pushing back against a proposal that would require them to disclose whether clearing members were consulted before listing new products.

The Chicago Board Options Exchange and Chicago Mercantile Exchange have come under fire from clearing banks and regulators after they began trading bitcoin futures contracts last month. Futures commission merchants (FCMs) say they were not given an opportunity to air concerns about the contracts, and have called for changes to the self

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