The Chicago Mercantile Exchange has withdrawn an official request to US authorities which would have allowed buy-side firms to clear trades for their own account rather than relying on a clearing broker.
The firm, which clears both listed and over-the-counter derivatives for a range of asset classes, decided to scrap its so-called direct funding participant (DFP) proposal in September following a period of review with market participants and its chief regulator, the Commodity Futures Trading
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